Exhibit 99.1

QUANTUM ANNOUNCES INTENTION TO OFFER CONVERTIBLE SENIOR SUBORDINATED NOTES DUE 2017

SAN JOSE, Calif., Oct. 24, 2012 – Quantum Corp. (NYSE:QTM) announced today that it intends to commence a private placement, subject to market conditions, of $60 million aggregate principal amount of Convertible Senior Subordinated Notes due 2017 in reliance on Rule 144A under the Securities Act of 1933, as amended. The notes will be convertible, at the option of the holders, into shares of the company’s common stock. The interest rate, conversion rate and offering price will be determined by negotiations between the company and the initial purchaser of the notes.

In addition, Quantum expects to grant the initial purchaser of the notes an over-allotment option to purchase up to an additional $10 million aggregate principal amount of notes from the company.

Quantum intends to use the net proceeds from the private placement primarily to repay amounts outstanding under its senior secured credit agreement with Wells Fargo and to use any remaining net proceeds for general corporate purposes.

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Quantum Announces Intention to Offer Convertible Senior Subordinated Notes Due 2017

Oct. 24, 2012 – Page 2

This announcement is neither an offer to sell nor a solicitation to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

The notes and any common stock issuable upon conversion of the notes have not been registered under the Securities Act of 1933, as amended, or under any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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Quantum and the Quantum logo are either registered trademarks or trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.

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