Citizens Financial chooses EMC's Symmetrix to store all IBM mainframe data.HOPKINTON, Mass.--(BUSINESS WIRE)--Feb. 13, 1995--EMC Corporation (NYSE NYSE See: New York Stock Exchange :EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. ) announced today that Citizens Financial Group of Providence, R.I., one of the fastest growing bank holding companies in America, purchased EMC's Symmetrix in order to replace all existing mainframe storage devices while adding capacity for future growth. Vincent Balasco, senior vice president of Citizens' Banking Services Group, said, "EMC's products will allow us to process our rapidly expanding customer and product database in less time, with less space, and reduced environmental costs. Additionally, its architecture positions us favorably with a platform for the rapidly emerging processes and technologies of tomorrow. EMC's Symmetrix offered us the best return on our investment as well as an outstanding level of service which is critical for us." "Although Citizens is growing very rapidly, it is growing conservatively," continued Balasco. "Every technology purchase is weighed for its risk exposure and its potential to help Citizens continue its growth curve." Citizens evaluated proposals from competing storage vendors before awarding the purchase to EMC. EMC continues to gain market share in the IBM mainframe IBM mainframes, though perceived as synonymous with mainframe computers in general due to their marketshare, are now technically and specifically IBM's line of business computers that can all trace their design evolution to the IBM System/360. storage environment. EMC first introduced a mainframe storage product in late 1990 and by 1994 held 29 percent of the market. Industry analysts are expecting yet another dramatic increase for EMC in 1995, when the company is expected to take over the largest share of the market. EMC attributes its market share growth to the competitive advantage EMC products offer. Citizens Financial Group, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Royal Bank of Scotland
The Royal Bank of Scotland Plc (Scottish Gaelic: Banca Rìoghail na h-Alba , is a $10 billion Bank Holding Company headquartered in Providence, R.I. with banking offices in R.I., Mass. and Conn., as well as the Citizens Mortgage Company based in Atlanta, Ga. EMC Corporation EMC Corporation (NYSE: EMC) is an American Fortune 500 and S&P 500 manufacturer of software and systems for information management and storage. It is headquartered in Hopkinton, Massachusetts, USA. (NYSE:EMC) is a fortune 500 company. EMC is a world leader in enterprise-wide information storage and retrieval information storage and retrieval, the systematic process of collecting and cataloging data so that they can be located and displayed on request. Computers and data processing techniques have made possible the high-speed, selective retrieval of large amounts of technology. CONTACT: EMC Corporation Mark Fredrickson, 508/435-1000 |
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