Wikipedia
lzip is a free, command-line tool for the compression of data; it employs the Lempel–Ziv–Markov chain algorithm (LZMA) with a user interface that is familiar to users of usual Unix compression tools, such as gzip and bzip2.
Like gzip and bzip2, concatenation is supported to compress multiple files, but the convention is to bundle a file that is an archive itself, such as those created by the tar or cpio Unix programs. Lzip can split the output for the creation of multivolume archives.
The file that is produced by lzip is usually given .lz as its filename extension, and the data is described by the MIME type application/x-lzip.
The lzip suite of programs was written in C++ and C by Antonio Diaz Diaz and is being distributed as free software under the terms of version 2 or later of the GNU General Public License (GPL).