MTI to Sell Magnetic Tape Storage Systems

MTI Technology Corp. said Monday that it has formed a joint venture with Breece Hill Technologies Inc. of Boulder, Colo., to develop, sell and support a family of systems to store data on magnetic tape. MTI said it will invest $250,000 in cash for a 3.5% stake in Breece Hill and will market that company’s products under the MTI label. The Anaheim-based MTI designs, manufactures and sells data storage products for several types of office computer networks.