"The company continues to execute on its plan to become a global leader in the rapidly-growing virtualization, cloud computing, mobile and data management markets," said
- Net revenue for the fourth quarter of FY2014 is expected to exceed
$24 million, up from approximately $20 millionfrom the third fiscal quarter.
- RDX® revenue is expected to exceed
$8 millionfor the fourth quarter of FY2014, up from approximately $6 millionin the third quarter.
- NAS revenue increased more than 20% from the third quarter to the fourth quarter of FY2014.
- Integration with Tandberg Data: The Company is continuing to remain on track with its integration plan, and expects to achieve approximately
$20 millionin annual synergies, as previously disclosed, by the end of calendar year 2014.
- RDX: The RDX product line has reached a significant milestone with over 2 million RDX removable disk cartridges and over 650,000 RDX drives shipped worldwide. This milestone demonstrates the growing global acceptance of RDX technology as a backup and archive system.
- NAS: Last week, the Company announced the newest version of its award-winning GuardianOS® NAS operating system with enhanced features for simplified storage management, improved compatibility, security and performance. Optimized for reliability and speed, GuardianOS delivers storage provisioning, data protection, improved cross-platform file sharing, mixed client network environments, and security. GuardianOS 7.5 is available now for download.
- Tape business: In June,
Overland Storagewon "Tape-Based Product of the Year" at the 2014 Storage Awards for its NEO® 8000e tape library, and was named runner-up for the Tandberg Data StorageLibrary® T40+.
- SnapServer® and BitTorrent Collaboration: Earlier this month, the Company announced collaboration with
BitTorrent, Inc.to embed BitTorrent Sync™ within Overland's award-winning SnapServer Network Attached Storage (NAS) product line. Available now, this solution delivers an integrated, secure private cloud mobility solution, and effortlessly synchronizes files between geographically-dispersed mobile devices, tablets, desktop clients and networked storage systems with no transfer limits or subscription fees.
- Virtualization business continues through the Company's existing partnership with Sphere3D. Several customers are participating in the early adopter and pilot programs including organizations in key market segments such as:
- Public Sector: Thousand+ Chromebook implementation based on Glassware 2.0
- Healthcare: A network of hospitals are implementing a combined solution that includes SnapServer DX2, V3 appliances, and Glassware2.0
- Cloud Deployment: A leading business productivity applications suite virtualized by the Glassware 2.0 and built on an
Overland Storagecloud infrastructure
- BDT Lawsuit Settlement:
Overland Storagehas settled all claims in its patent infringement litigation filed against BDT Media Automation GmbH. As part of the settlement agreement, Overland Storagehas entered into a patent cross-license agreement with BDT Media Automation GmbHand a strategic investment in Overland Storageby BDT.
- Sphere3D Merger:
Overland Storage'sdefinitive merger agreement with Sphere3D Corporationis progressing with a Form F-4 registration statement that was filed on July 23.