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BRIEFLY

Technology & Telecommunications

June 11, 1996|Times Staff and Wire Reports

IBM, Storage Technology in Product Pact: International Business Machines Corp. has signed on rival Storage Technology Corp. to make storage subsystems for the computer giant, in a bid to shore up IBM's storage business, which has been losing market share in recent months. Financial terms were not disclosed, but analysts said the deal could produce hundreds of millions of dollars in new revenue for Louisville, Colo.-based Storage Technology. The deal broadens IBM's family of mainframe storage systems while greatly increasing Storage Technology's distribution for those products. The agreement is the biggest deal Storage Technology has ever won from another company to resell its products.

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