Quotium Acquired Hi-Stor

Chairman and CEO of Michel Tiberini of Quotium Technologies announced the acquisition of the software company Hi-Stor Technologies.

Hi-Stor offers software solutions for Archival and Secondary Storage monitoring (StorSentry and StorBee). Hi-Stor has offices in France, in the United States, and is represented in UK and Germany. For Quotium, which was seeking to extend its critical applications management solutions to the management of critical data, this acquisition brings innovative technologies that allow Quotium to enter into the fast growing storage management solutions’ market.

To develop this storage monitoring business, Quotium will leverage its strong financials, in order to extend the existing international organisation and provide customers innovative products to reduce their cost and risk levels. Quotium intends to continue developing the StorSentry technology that has major references in the Enterprise markets, and also intends to expand the current range of solutions in the archival market. The combined solutions will be sold worldwide under the Quotium Technologies brand name.

Quotium Chairman and CEO Michel Tiberini said: "At Quotium, we’re always looking to ensure that we have the best technical and commercial resources to add value to our critical application monitoring offering. The technologies that Hi-Stor has developed are a perfect fit for Quotium that will extend its portfolio of solutions into the storage market.”

Terms of the transaction were not disclosed.

Comments

Hi-Stor was regularly sending us its press releases. But not this one, published last November - that's the reason we are late to publish it -. And for a good reason: the company has been sold and couldn't succeed after several years of efforts from its executives to push its activities. The deal was announced one day after Hi-Stor went into judicial liquidation.

At the beginning, Hi-Stor was known as a remarkable specialist in tape technology, signing for example contracts with ATG and Quantum for S-DLT optical tracking, and participating in several European R&D projects. But it was not enough to survive. It tries to diversify in storage integration, then in software solutions to monitor media of tape drives with a partner agreements with Imation and Sun, and also in data classification and archiving appliance.

Other partners included Ascent Media, Bouygues Telecom, Dassault, EADS, EMC, Finanz IT, Orange, Red Bee BBC, and Turner Broadcasting Systems Inc.

In 2007, Hi-Stor had 46 employees for €2.5 million in annual revenues.

The recruitment in 2006 of Fabrice Aftis as VP WW sales and marketing was supposed to help the French firm. But it was finally the contrary. (to read his anwer)

Hi-Stor was founded in 1997 in Toulouse, France by CEO Fernando Moreira CEO and VP R&D & services André Pouget-Abadie. It could only raised a total of €3.5 million in two financial rounds, the last one being €2 million from ACE Management in October 2007. The company had offices in the United States (Louisville, CO and Boston, MA), France (Toulouse and Paris) and was represented in UK, Italy and Germany.

Before this acquisition, Quotium was totally unknown in the industry and there is no evidence that it will not be the end of an old French venture in fundamental storage technology.