Storage Technology Corp shares jumped to close up $3.37 at $42.87, a 13% advance on the deal for IBM Corp to put its name on and market its disk arrays. The deal is forecast to add to StorageTek’s revenue, but only from next year. IBM is committed to taking a minimum level of product between now and 2000, and gets better prices if it manages to exceed its commitment; David Weiss, StorageTek’s new chairman and chief executive and a former longtime IBMer, says he approached IBM in February after realizing StorageTek could not develop the global sales force it needed to sell its disk products effectively.
