Seagate & Tape Ark Tie-Up To Shift Tape-Bound Data To Cloud
Zacks Investment Research | Dec 10, 2018 09:22PM ET
Seagate Technology plc (NASDAQ:STX) recently entered into a partnership with Tape Ark in a bid to migrate legacy tape-archived data to strong and secure cloud platform.
In this regard, robust data management capabilities of Lyve Data Services of Seagate will complement data restoration technology of Tape Ark.
The evolution of data storage mediums have been shaped by its drive to increase the longevity of data and making it seamlessly accessible to future generations.
Data is touted to be the new oil driving digital transformation. However, data trapped in traditional storage devices, including tapes, is not easily accessible, making the immense business value it holds, redundant.
Notably, per Tape Ark estimates, legacy data in tapes, exceeding 1 billion units, stored in offsite physical backup are at risk of permanent loss. In an attempt to solve inaccessibility and data loss, both Seagate and Tape Ark have teamed up to “liberate” the tape-restricted data by transferring it to the cloud.
The new edge solutions of Seagate leveraging Tape Ark’s tech are anticipated to provide customers with a cost effective and environment friendly solution paving the way for higher productivity.
The decades-old data, once mobilized to secure, robust and market leading public cloud platforms including the likes of Amazon’s (NASDAQ:AMZN) Amazon Web Services, Microsoft’s (NASDAQ:MSFT) Azure, Alphabet’s (NASDAQ:GOOGL) Google, will enable the enterprises to seamlessly access it and unlock valuable business insights.
The aim to provide industries with seamless access to larger data set is expected to lead to robust intelligent systems. In the words of chief executive officerand founder of Tape Ark, Guy Holmes, “Ingesting these data sets into the cloud puts them back in control of their data assets and potentially turns an inaccessible, decaying cost center into a valuable revenue stream.”
With advanced artificial intelligence (“AI”), machine learning (“ML”) and analytics tools, the industries can benefit from meaningful research insights and financial planning mechanisms. As a result, majority of industries, comprising healthcare, space and environmental sciences education and research, utility, mining, agriculture, media, finance, technology, among others stand to benefit from the new deal.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.