COSTA MESA, Calif.--(BUSINESS WIRE)--Nov. 8, 1999--Seagate Technology Inc. (NYSE:SEG), a leading manufacturer of computer tape drive products, and Overland Data Inc. (Nasdaq:OVRL), a global supplier of storage automation solutions, today announced that Seagate has licensed Overland's patented Variable Rate Randomizer (VR2(TM)) technology.
While specific terms of the agreement were not disclosed, the companies said that Overland's VR2 technology may be integrated in Seagate's future tape drive offerings. VR2-equipped drives can significantly reduce data backup times while allowing more information to be stored on a single cartridge.
VR2 technology is the first successful implementation of Partial Response Maximum Likelihood (PRML) channel encoding technology on linear tape drive platforms. Tests conducted at Overland on various tape platforms have shown that VR2 can increase the native capacity and native data transfer rate performance of existing linear tape technologies by as much as 1.5 to 2 times without requiring any changes in tape path design, recording heads and/or media.
This is not accomplished through compression but by improving code rate efficiency to more than 99 percent. Code rate efficiency measures the number of user data bits written to tape vs. the number of overhead bits. Due to the unprecedented efficiency of its high rate code, VR2 technology is one of the most efficient PRML implementations ever developed.
"Overland's VR2 technology is a natural fit for Seagate's tape drives," said Michael Peterson, president of Strategic Research. "VR2 technology offers an excellent opportunity to contribute to the next generation of Seagate's already competitive product line."
"The adoption of Overland's VR2 encoding technology by Seagate Technology is a strong endorsement by an acknowledged leader in tape drive technologies," said Scott McClendon, Overland president and chief executive officer. "The fast-growing desktop and entry-level network storage marketplace holds great potential for next-generation high-performance tape technologies and VR2."
"Businesses are constantly evaluating the best backup solutions for their needs, and Seagate is focused on meeting those needs," said Kevin Perry, executive director of marketing and business development, Seagate Removable Storage Solutions. "Utilizing VR2 encoding technology in future products allows us to satisfy our customers' requirements for capacity and performance."
"This announcement marks the third major licensing agreement for VR2 technology in the last year," said Steve Richardson, vice president of marketing at Overland. "With this recent Seagate license agreement, we have made a significant move toward our objective of establishing VR2 as the de-facto standard for improving linear channel recording technology."
About Overland Data
Overland Data (http://www.overlanddata.com) is a global supplier of storage automation solutions and related technologies designed to meet and surpass the critical requirements of high-availability network computing environments, from entry level to the enterprise. The company is a recognized leader in technology innovation for such achievements as the award-winning DLT LibraryXpress SmartScale Storage(R) architecture that establishes new standards for intelligent automated storage and scalability, and the patented (No. 5,815,514) VR2 data encoding technology that can significantly increase the capacity and throughput of linear tape formats.
Overland has also earned a worldwide reputation for unmatched product quality and innovative warranty programs such as the Guaranteed Up Time Service (GUTS(TM)) Program that dramatically reduce the total cost of ownership. The company's award-winning products meet the critical needs of end users, distributors and OEMs in industries worldwide.
About Seagate Technology
Seagate Technology (NYSE:SEG), is a leading provider of technology and products enabling people to store, access and manage information. The company is committed to providing best-in-class products to help people get information when, where and how they want it. Seagate is the world's largest manufacturer of disc drives, magnetic discs and read-write heads, an innovator in tape drives and a leading developer of Business Intelligence software. Seagate can be found around the globe and on the World Wide Web at http://www.seagate.com. For automated news, stock and financial information by phone, dial toll-free 877-SEG-NYSE. Outside the U.S. and Canada, dial 760-704-4368.
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," "intends," "expects," "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. 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 Form 10-K for the most recently completed fiscal year. 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.
Seagate and Seagate Technology are registered trademarks of Seagate Technology Inc. All other trademarks are the property of their respective owners. VR2 is a registered trademark of Overland Data Inc. All other trademarks and registered trademarks are property of their respective owners.
