Overland Storage Announces Availability of LTO4 Tape Drive Technology
19 June 2007 - 10:30PM
PR Newswire (US)
SAN DIEGO, June 19 /PRNewswire-FirstCall/ -- Overland Storage, Inc.
(NASDAQ:OVRL), a leading provider of tape- and disk-based backup
and recovery solutions, has announced that its NEO Series and
ARCvault families of tape automation will use HP fourth-generation
linear open-tape drives, known as LTO4. "HP was chosen as
Overland's LTO4 tape drive supplier due to the relationship that
exists between the two companies and HP's leadership in the LTO
tape drive market," said Scott McClendon, interim president and CEO
of Overland Storage. Additionally, HP LTO4 tape drives, which offer
device-level encryption, improved performance, and higher capacity
than previous LTO generations, will be integrated into the HP
StorageWorks MSL6000 tape libraries manufactured by Overland under
an OEM contract. "HP values its relationship with Overland both as
a supplier for the HP StorageWorks MSL line and as a customer of
our tape drives," said Bob Wilson, vice president, Nearline,
StorageWorks Division, HP. "We look forward to supporting Overland
in introducing LTO4 tape drive technology in their products." "The
combination of improvements in capacity and performance as well as
support for data encryption makes LTO4 a compelling enhancement for
customers looking for faster backup and/or improved data
retention," said Peri Grover, director of product management at
Overland Storage. "With LTO4, our NEO SERIES(R) and ARCvault(TM)
solutions will scale from 9.6 terabytes to 1.6 petabytes and reach
speeds of up to 20 terabytes per hour, satisfying the needs of
customers of all sizes." "The introduction of LTO4 represents
another compelling event in the storage industry," added Grover.
"The decision to add LTO4 support to the MSL6000 series from HP
reflects the ongoing demand for the products and how well these
libraries have held up over time." Availability and Pricing
Overland's family of NEO tape libraries will begin shipping this
month with a starting MSRP of $16,615. Availability of LTO4
configurations of the ARCvault tape libraries will follow within
30-45 days. About Overland Storage Now in its 26th year, Overland
Storage is a market leader and innovative provider of simply
protected storage solutions - smart data protection appliances and
software modules designed to work together, affordably, to ensure
that information is automatically safe, readily available and
always there. Overland's award-winning data protection solutions
include the ULTAMUSTM RAID SERIES of affordable, high-capacity
storage; REO SERIES(R) of disk-based backup, recovery and VTL
appliances; and the NEO SERIES(R) and ARCvault(TM) family of tape
automation solutions. Overland sells its products through leading
OEMs, commercial distributors, storage integrators and value- added
resellers. For more information, visit Overland's web site at
http://www.overlandstorage.com/. Except for the factual statements
made herein, the information contained in this news release
consists of forward-looking statements that involve risks,
uncertainties and assumptions that are difficult to predict. Words
and expressions reflecting optimism and satisfaction with current
prospects, as well as words such as "believe," "hopes," "intends,"
"estimates," "expects," "projects," "plans," "anticipates" and
variations thereof, identify forward- looking statements, but their
absence does not mean that a statement is not forward looking. Such
forward-looking statements are not guarantees of performance and
the company's actual results could differ materially from those
contained in such statements. Factors that could cause or
contribute to such differences include possible delays in new
product introductions and shipments by the company including the
new ULTAMUS and ARCvault product lines; possible delays in
enhancements and new offerings in the company's REO line; market
acceptance of the company's other new product offerings; the
performance of the company's newly restructured management team;
the timing and market acceptance of new product introductions by
competitors; unexpected inventory charges resulting from the
termination of the relationship with the company's former
outsourced manufacturing partner; inefficiencies and excessive
manufacturing costs in the early stages of the return of production
to the company's San Diego facility; worldwide information
technology spending levels; unexpected shortages of critical
components; rescheduling or cancellation of customer orders; loss
of a major customer; the timing and amount of licensing royalties;
general competition and price pressures in the marketplace; the
company's ability to control costs and expenses; and general
economic conditions. Reference is also made to other factors set
forth in the company's filings with the Securities and Exchange
Commission, including the "Risk Factors," "Management's Discussion
and Analysis" and other sections of the company's Forms 10-K and
10-Q currently on file with the SEC. These forward-looking
statements speak only as of the date of this release and the
company undertakes no obligation to publicly update any
forward-looking statements to reflect new information, events or
circumstances after the date of this release. Overland, Overland
Storage, REO Series, REO, NEO Series, NEO, ARCvault Series,
ARCvault and ULTAMUS are trademarks of Overland Storage, Inc.
DATASOURCE: Overland Storage, Inc. CONTACT: Sue Hetzel of
HetzelMeade Communications, +1-760-434-9927, for Overland Storage,
Inc. Web site: http://www.overlandstorage.com/
Copyright
Overland Storage (NASDAQ:OVRL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Overland Storage (NASDAQ:OVRL)
Historical Stock Chart
From Jul 2023 to Jul 2024