Broadband Storage Joins Quantum Offshoot Snap
Irvine-based Broadband Storage Inc. has been acquired by Quantum Corp. offshoot Snap Appliance Inc. and will make up the new company’s storage solutions group in Irvine’s University Research Park.
Snap split from Milpitas-based Quantum last week after buying its former parent’s network attached storage assets for $11.3 million. The new company is based in San Jose with about 35 people in Irvine.
Broadband Storage, which makes storage network software, offered its products to Snap for an equity stake in the new venture. Broadband itself was an offshoot of Costa Mesa-based Delphi Engineering Group. It moved from Costa Mesa to University Research Park in 2001.
Other Snap investors include Moore Capital Management and Mellon Ventures Inc. The split is part of a larger restructuring bid by Quantum.
