Tuesday, October 21, 2014

Overland On Track for Completion of Transformation

Overland Storage, Inc. reported progress on the third phase of the company's transformation and its achievements for operational efficiencies intended to deliver a profitable run-rate exiting calendar year 2014, excluding stock-based compensation and one-time charges related to the Sphere3D merger and the Tandberg acquisition.

"We are pleased to report that the expected operational changes will exceed our previously-announced annual cost savings target of $20 million by 10% to 15%. As a result, we are on track to execute on our overall transformation strategy to build a strong foundation for our core business, increase global scale, and enter new and innovative markets," said Eric Kelly, president and CEO, Overland.

Sphere3D Merger Update:

  • Sphere3D has filed with the SEC Amendment No. 2 to its Registration Statement on Form F-4/A covering the shares of Sphere 3D's common stock to be issued in connection with the proposed merger with Sphere 3D.
  • The proposed merger with Sphere3D continues to be on track to close this fiscal quarter, subject to the effectiveness of the registration statement described above.
  • Overland have entered into a memorandum of understanding with the plaintiffs in the consolidated class action cases referred to as In re Overland Storage Inc., Shareholders Litigation that would, subject to court approval and other standard conditions, provide for the settlement of all outstanding claims in regard to our proposed merger transaction with Sphere3D.

Financing Update:
Overland has secured $5.0 million of working capital in the form of debt financing from Cyrus Capital to support restructuring and transition plans.


Restructuring Update:
  • Between the closing of our acquisition of Tandberg Data and the end of this quarter, the company reduced headcount by over 100 people, constituting approximately 30% of our workforce excluding personnel in our Chinese manufacturing facility.
  • It in the process of completing the transition of manufacturing from our San Diego facility to China facility and contract manufacturers.
  • Relationship with BDT Media Automation GmbH has progressed with the expansion of the company's tape automation product offerings and previously announced patent cross license agreement.
Overland broadens its product portfolio with following products:
  • V3 hyper-converged appliances designed to address the growing virtualization and cloud markets.
  • SnapServer XSD 40, powered by the new GuardianOS 7.6 software, is a simple NAS and iSCSI SAN storage available for business needs - from virtualized server and Exchange environments, to backup and storage consolidation.
  • SnapScale clustered storage with the new version of our RAINcloud OS optimized for virtual infrastructures without adding management complexity.
  • RDX integration with SnapServer provides small-medium business customers with an affordable integrated solution for backup and data exchange.
  • NEO tape automation product line addresses a larger segment of the market, and provide our customers with a broader set of archive options.

Monday, October 13, 2014

IBM TS1150 Model E08 Tape Drives With Record 10TB Native Capacity and 360MB/s …

IBM TS1150 Model E08 (3592-E08) is the fifth generation of the IBM 3592 enterprise tape drive and is designed to provide higher levels of performance, reliability, and cartridge capacity than the TS1140 Model E07 tape drive.

The TS1150 has a 32-channel GMR head design to deliver a native data rate performance of up to 360MB/s versus the 250MB/s data rate of the TS1140. TS1150 tape drives have dual-port 8Gb FC interfaces for FC attachment to host systems or a switched fabric environment.

The TS1150 Model EH8 (3592-EH8) tape drive is the HD2-compatible model of the TS1150 for installation in HD2 frames of the TS4500 tape library.

Model conversions are also supported to allow TS1150 model E08 to be moved from TS3500 tape library to the HD2 frames of a TS4500.

With the use of the Tape Cartridge 3592 Advanced Data (Type D), TS1150 can format a cartridge uncompressed up to 10TB. TS1150 is designed for automation and uses a tape cartridge with a form factor similar to other 3592 tape cartridges, allowing it to be used in the TS4500 tape library.
The TS1150 also supports drive-based data encryption to help protect data. The TS1140-based encryption and associated IBM Security Key Lifecycle Manager components are supported in a variety of OS environments, including Power, System i, System x, System p, Oracle, Linux, and Windows.

Application, system, or library managed encryption management methods are supported.
The encryption capability is supported when the TS1150 tape drive is integrated with or attached to select IBM supported tape libraries.

Key prerequisites
The TS1150 tape drive is supported in environments including select Power Systems, System i, System p, System x, and other servers running AIX, Linux, Oracle Solaris, and Windows OS environments.

Planned availability date
  • October 24, 2014: Model E08 and its feature numbers; feature number 9699 and model conversion for model E07 to model E08
  • November 21, 2014: Feature numbers 1628, 1629, and model EH8; model conversions for model EH7 to EH8 and model E08 to model EH8

Wednesday, August 13, 2014

Overland Expects to Exceed $24 Million Revenue for 4FQ14 - Up from $20 million for former quarter

Overland Storage, Inc. announced an update on its business operations to address recent successes.

"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 Eric Kelly, president and CEO, Overland. "We are seeing positive customer responses to the combination of Overland and Tandberg, and are progressing towards achieving the operational efficiencies required to return to profitability. In addition, our recent financial results, coupled with product growth and achievements, are providing a good foundation as we progress into our next growth phase."

Financial Highlights:
  • Net revenue for the fourth quarter of FY2014 is expected to exceed $24 million, up from approximately $20 million from the third fiscal quarter.
  • RDX revenue is expected to exceed $8 million for the fourth quarter of FY2014, up from approximately $6 million in 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 million in annual synergies, as previously disclosed, by the end of calendar year 2014.

Business Highlights:
  • RDX: The RDX product line has reached a milestone with over 2 million RDX removable disk cartridges and over 650,000 RDX drives shipped worldwide.
  • NAS: The company announced the newest version of its GuardianOS NAS OS 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 for download.
  • Tape business: In June, Overland Storage won 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 StorageLibrary T40+.
  • SnapServer and BitTorrent Collaboration: Earlier this month, the company announced collaboration with BitTorrent, Inc. to embed BitTorrent Sync within Overland's SnapServer NAS product line. Available, this solution delivers an integrated, secure private cloud mobility solution, and 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 cloud infrastructure
  • BDT Lawsuit Settlement: Overland has settled all claims in its patent infringement litigation filed against BDT Media Automation GmbH. As part of the settlement agreement, Overland has entered into a patent cross-license agreement with BDT Media Automation GmbH and an investment in Overland by BDT.
  • Sphere3D Merger: Overland's definitive merger agreement with Sphere3D Corporation is progressing with a Form F-4 registration statement that was filed on July 23

Quantum Acquires Start-Up Symform - Tape Library Company to Expand Cloud Offering

Quantum Corp. has acquired Symform, Inc.'s cloud storage services platform, which is currently used by 45,000 individual users and small businesses in 170 countries.

Quantum is committed to maintaining the service for existing Symform customers and also plans to leverage the technology to expand Quantum's cloud software capabilities and service offerings in data protection and scale-out storage.

In addition, the company has hired Symform's development team, including CTO and co-founder Bassam Tabbara, to help build out these offerings.

Symform's extensible cloud service manages petabytes of storage and billions of data objects under management in a range of use cases. Its technology supports scalability and provides benefits such as self-healing and self-protection that enable simple, non-disruptive technology migration. In addition, Symform's technology is known for its simple deployment and ease of use.

Other benefits include:
  • Flexible options for cloud storage - Symform's technology offers options for integrating customer data into the cloud, including file sync and share, file backup and archive and system replication, with the ability to move data to and from smartphones, tablets, laptops, workstations and servers (Windows, Linux and Apple platforms). Flexible, modular architecture also allows customers in geographies not serviced by traditional cloud providers to experience the benefits of cloud storage. In addition, the technology can be leveraged in other ways beyond its current uses, including creating private clouds, enabling other service providers and deploying higher-level cloud storage offerings.
  • Internet access to files from any device, anywhere - Symform's technology provides easy access to files from any device, anywhere, without the need to retrieve data through a backup agent or central server. All data is automatically encrypted at the source, and, depending on the hardware configuration, the system can deliver differing levels of service, enabling high-latency cold storage and more active backup and archive.
  • Web-based, centralized management of all components - As the foundation of a production cloud, the technology supports 100% web-based, centralized management of all cloud components. This makes it easy to set up and deploy cloud environments for use cases such as file sharing, backup and archive.

Monday, June 23, 2014

Atto Certified by HP - For FC, Thunderbolt and SAS based storage environments

ATTO Technology, Inc., in storage, network connectivity and infrastructure solutions for data-intensive computing environments for more than 25 years, highlights its partnership with HP.

As IT infrastructures see some of its most radical change in over a decade, ATTO and HP are poised to deliver unique solutions that support the New Style of IT.

"The transformation within the IT market requires a very different set of performance characteristics," said Wayne Arvidson, VP marketing and channels, ATTO. "ATTO and HP have been solving similar challenges in other vertical markets for over 25 years and now bring this expertise to help create what HP is calling the New Style of IT."

ATTO's expertise in storage and network connectivity has enabled them to provide technology solutions for industry platform providers like HP. The ATTO partnership enhances HP's solutions for the IT infrastructure, from enterprise data center to workgroup environments, encompassing all facets of storage, servers, workstations, and backup. This creates a single source of performance connectivity solutions for HP customers and partners.

ATTO provides HP-certified solutions that maximize the availability of data and improve application performance in FC, Thunderbolt and SAS based storage environments, as well as 10 Gb/s Ethernet networks.

These certifications include:
  • Thunderbolt to SAS/SATA Thunderlink and Thunderstream Desklink devices
  • Celerity Gen 5 powered 16Gb and 8Gb FC HBAs
  • ExpressSAS SAS/SATA HBAs and RAID adapters
ATTO's Desklink family of products provides performance connectivity for HP Thunderbolt-enabled workstations, all-in-ones and laptops, including the Z-series, and is certified with HP's StoreEver Ultrium LTO-5 and LTO-6 tape drives. Thunderbolt-enabled Desklink devices provide small form-factor platforms with system configuration flexibility and the only way to connect into an existing high-performance storage and networking infrastructure.

ATTO HBAs provide customers with performance workstation connectivity to their MSA Storage and 3PAR StoreServ Storage. ATTO HBAs, with performance and throughput, outperform the competition when it comes to moving and storing data. ATTO provides a redundant storage solution featuring ATTO Celerity FC HBAs and HP's 3PAR StoreServ storage systems. Utilizing ATTO's MultiPath Director technology allows workstations to have redundant access and failover, as well as load balancing capabilities, taking advantage of 3PAR's advanced enterprise storage features. Users are able to collaborate on HA storage in real-time, without losing access to their data.

Benefits of ATTO Celerity FC HBAs with HP 3PAR StoreServ Storage include:
  • ATTO's Advanced Data Streaming (ADS) designed to manage latency and provide high bandwidth for both data-intensive and high-transaction rate applications, providing increased uptime and better productivity.
  • ATTO's MultiPath Director Technology provides uninterrupted access to storage with automatic path failover and failback, and is the only solution that allows workstations, not just servers, direct connection to HA, performance enterprise storage for shared workflows.
  • Direct workstation connectivity to enterprise storage in big data environments such as scientific, medical, engineering and media applications, improves aggregate bandwidth and reduces 'time-to-data' so users can make critical decisions faster.

Monday, May 19, 2014

Overland: Fiscal 3Q14 Financial Results - Revenue up 74% with Tandberg

Overland Storage, Inc. reported financial results for its fiscal 2014 third quarter ended March 31, 2014.

Eric Kelly, president and CEO, said: "During the quarter, we completed the first phase of our continuing integration of Tandberg Data ahead of plan, and we continue to make good progress with our integration activities which are projected to be complete by the end of the calendar year. Through this process, we remain focused on leveraging the increased scale and resources of the combined company to maximize the growth opportunities we see with our expanded product and service portfolio, as well as the launch of our integrated virtualization and storage solutions, which we expect to occur in the next few months. We are seeing very positive customer responses to the combination of Overland and Tandberg, and believe that once fully integrated, we will achieve the operational efficiencies to enable us to become a profitable and growing company."


Recent Highlights:


  • Completed acquisition of Tandberg Data Holdings S.a r.l., a privately held global leader of storage and data protection solutions on January 21, 2014.
  • Executing on strategic relationship with Sphere 3D to deliver a new purpose built VDI appliance and software-defined storage solution, which will include Overland's NAS platform and be delivered through channel partners.
Third Quarter Fiscal 2014 Financial Results
The following financial results for the third quarter of 2014 reflect contribution from the Tandberg acquisition for a partial quarter from January 22, 2014 through March 31, 2014 resulting in the exclusion of twenty-one days of Tandberg operations from Overland's. On a pro forma basis, net revenue for the three months ended March 31, 2014 is $22.3 million.


Net revenue for the third quarter of fiscal 2014 was $20.2 million, compared to $11.6 million for the third quarter of fiscal 2013 and $10.6 million in the second quarter of fiscal 2014.

Product revenue for the third quarter of fiscal 2014 was $15.8 million, compared to $6.9 million for the third quarter of fiscal 2013 and $6.6 million in the second quarter of fiscal 2014.
      
Gross margin for the third quarter of fiscal 2014 was 32.5%, compared to 33.1% for the third quarter of fiscal 2013 and 34.5% in the second quarter of fiscal 2014.
      
Operating expenses for the third quarter of fiscal 2014 were $13.4 million, compared to $9.0 million in the third quarter of fiscal 2013 and $8.2 million for the second quarter of fiscal 2014.
      
Stock compensation expense was $1.0 million in the third quarter of fiscal 2014, compared to $1.2 million in the third quarter of fiscal 2013 and $0.8 million in the second quarter of fiscal 2014.

Depreciation and amortization was $0.9 million in the third quarter of fiscal 2014 and $0.3 million in both the third quarter of fiscal 2013 and the second quarter of fiscal 2014.
      
Net loss for the third quarter of fiscal 2014 was $6.6 million, or a loss of $0.44 per share, compared to a net loss of $5.1 million, or a loss of $0.87 per share, in the third quarter of fiscal 2013 and a net loss of $4.3 million, or a loss of $0.59 per share, in the second quarter of fiscal 2014.
      
Cash and short-term investments at March 31, 2014 were $7.3 million, compared to cash of $8.8 million at June 30, 2013. At March 31, 2014, the company had $4.4 million outstanding under its credit facilities and $9.5 million outstanding under its convertible notes.

Tuesday, April 08, 2014

Announcement of 6TB HDD From Seagate Imminent

Seagate could reveal in few days that the company will offer the availability of a 3.5-inch 7,200rpm HDD this quarter at 6TB, a record reached only by HGST using helium gaz.
Seagate is not in helium technology and it could use SMR with six platters for a cheaper price than HGST helium drive.
But there is no reason to use helium with SMR into the same device and then HGST will have the possibility to beat the current 6TB limit merging the two technologies.
This Seagate's 6TB unit could be revealed for the first time for an external drive.
"We are continuing to expand our offering of high capacity drives with our 6TB drive shipping early next quarter," said Steve Luczo, chairman and CEO of Seagate, during a conference call with financial analysts last January.

Tuesday, April 01, 2014

Imation Nexsan E-Series With Datacore SANsymphony-V

Imation Corporation, announced that its Nexsan E-Series storage arrays have been certified as DataCore Ready.

When combined with the DataCore SANsymphony-V storage virtualization platform, the solution offers data centers rapid ROI through significant improvements in data availability, agility, performance and flexibility.

"Without virtualization, storage and compute capacity are often wasted in application-specific silos. In a virtualized environment, hardware resources can be pooled and optimized from heterogeneous devices, which improves flexibility for the IT administrator," said Mike Stolz, VP marketing and technical services, Imation's Nexsan solutions. "The combined DataCore SANsymphony-V and Nexsan E-Series solution allows IT administrators to create the optimal virtualized storage architecture on highly reliable, proven Nexsan E-Series hardware."

The integrated solution offers benefits including:
  • Performance: Using E-Series arrays as a high-performing storage foundation, SANsymphony-V increases performance by supporting RAM caches of up to 1TB to accelerate reads and writes. SANsymphony-V also rebalances loads due to hotspots to further improve response and throughput.
  • Provisioning: The E-Series system allows IT professionals to mix-and-match SAS, SATA and SSDs. SANsymphony-V then provisions virtual disks as required to support different types of workloads. Granular thin provisioning and automated capacity reclamation gives administrators more options for improving efficiency.
  • Auto-tiering: SANsymphony-V analyzes what blocks of data need higher I/O throughput and assigns those blocks to the appropriate storage tier. Throughout this automated process, priority workloads like SQL databases can be given preference to fast storage including flash, while cooler data or lower prioritized workload data can be moved to lower-cost drives. E-Series storage arrays deliver virtually unlimited flexibility for configuring storage tiers according to capacity, performance and price characteristics, and the solution enables multiple tiers to be configured in a single E-Series system or across other existing storage hardware.
  • BC: By keeping data in two physically separate locations at the same time with the help of synchronous mirroring, the combined solution prevents storage from becoming a single point of failure for stretched cluster configurations. Imation and DataCore offer an alternative to expensive storage arrays. DR scenarios also are supported by enabling asynchronous replication across distant sites.
  • Migration: Storage investments risk creating more complexity and islands of incompatible devices. SANsymphony-V and E-Series work together to pool existing storage assets, eliminating risk of incompatibility and improving ROI across the entire infrastructure. Also, SANsymphony-V virtualizes data from the underlying hardware, enabling migration of data from legacy systems to E-Series with minimal or no interruption to running workloads