Overland Storage Significantly Expands Total Addressable Market With New Scale-Out NAS Solution
Oct 17, 2012 (Marketwire via COMTEX) --Overland Storage (NASDAQ: OVRL), the trusted global provider of effortless data management and data protection solutions across the data lifecycle, today announced the launch of its new clustered NAS solution, SnapScale X2™, that significantly expands the company's total addressable market. According to the most recent research report from Enterprise Strategy Group (ESG), Scale-Out NAS is a $14 billion market in 2012, growing to an $18 billion market in 2015. ESG expects that 80% of the NAS market will require Scale-Out technology by 2015.
In a separate press release issued earlier today, Overland highlighted the product features of its new Scale-Out NAS product, SnapScale, which eliminates independent storage silos and unifies storage volumes under one simple to deploy, easy to manage, high-performance solution that is scalable to 512 Petabytes with 99.999% uptime and enterprise-class features. With the ability to easily add hundreds of petabytes of capacity, SnapScale X2™ empowers businesses of all sizes to grow their storage infrastructure without interruption or downtime with an unprecedented return on investment.
"Our new Scale-Out NAS product substantially expands our addressable market opportunity to include the $14 billion scale-out NAS market and enables us to enter several of the fastest growing vertical markets including cloud services, video surveillance, and medical imaging," said Eric Kelly, President and CEO of Overland Storage. "We believe the SnapScale X2 will allow customers to deploy a scalable, high availability, enterprise solution that addresses their requirements while potentially saving hundreds of thousands of dollars. Companies of all sizes are struggling to effectively manage and protect the vast amount of data being generated. IT organizations and infrastructures simply cannot economically keep pace with the explosion of information required to run an organization. Our new SnapScale product solves this problem in a simple, effective and affordable manner with enterprise class features, scalability and high availability. We believe this new offering represents another game changing storage product for Overland that will drive significant growth for years to come."
About Overland Storage
Overland Storage is the trusted global provider of effortless data management and data protection solutions across the data lifecycle. By providing an integrated range of technologies and services for primary, nearline, offline, archival, and cloud data storage, Overland makes it easy and cost-effective to manage different tiers of information over time. Whether distributed data is across the hall or across the globe, Overland enables companies to focus on building their business instead of worrying about data growth. Overland SnapScale, SnapServer, SnapSAN, NEO Series and REO Series solutions are available through a select network of value added resellers and system integrators. For more information, visit www.overlandstorage.com.
Overland Storage, SnapScale, RAINcloud, SnapServer, SnapSAN, NEO Series, REO Series and the Overland logo are trademarks Overland Storage, Inc., that may be registered in some jurisdictions. All other trademarks used are owned by their respective owners.
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