Overland Storage (NASDAQ:OVRL)
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From Oct 2019 to Oct 2024
Overland Storage Introduces Regulation-Compliant Neo Series(R)
Tape Libraries
First Widely Adopted Mid-Range Tape Automation Solutions to Address Regulatory
Requirements
SAN DIEGO, Oct. 11 /PRNewswire-FirstCall/ -- Overland Storage, Inc.
(NASDAQ:OVRL), a leading provider of backup and recovery solutions, today
announced that its flexible, award-winning robust line of automated tape
libraries -- the NEO SERIES(R) -- now delivers the write-once-read-many (WORM)
functionality needed to address today's stringent data retention regulations.
By providing this capability in NEO SERIES libraries, Overland brings users the
technology needed to ensure the integrity, security and availability of their
compliance regulated data. WORM functionality is critical to meeting the data
protection requirements of regulations such as the Health Insurance Portability
and Accountability Act of 1996 (HIPAA), and the data retention requirements of
the Securities and Exchange Commission (SEC) regulations and Sarbanes-Oxley Act
of 2002 (SOX).
WORM capability is a standard feature in all NEO SERIES libraries utilizing
SDLT600 tape drives. Unlike other WORM implementations, Overland's SDLT600 NEO
implementation requires no specialized hardware or media cartridges for
compliance-driven applications. Instead, the NEO SERIES can be repurposed by
software, extending a user's return on investment and not penalizing users
faced with compliance challenges. Additionally, the continued ease-of-use and
implementation of NEO libraries creates further reductions in the cost of
ownership -- all while meeting strict regulations.
"Our commitment remains focused on providing innovative solutions that help
solve any and all storage challenges customers may encounter. Overland has
nearly 25 years of experience delivering reliable, robust automated storage
solutions to companies with unique and often critical requirements," said
Robert Scroop, vice president and general manager of automation products for
Overland. "Overland is now applying WORM capability within a cost-effective,
proven automated solution that addresses the data protection requirements of
companies facing regulatory compliance."
The NEO SERIES employs WORM tape drive technology from the tape drive division
of Quantum Corporation (NYSE:DSS). Quantum's DLTIce provides an electronic key
identifier on each tape that cannot be altered, rejecting overwrite and erase
procedures. As a result, DLTIce ensures that data written to backup tapes
cannot be rewritten or reformatted, meeting a core requirement of federal
mandates faced by companies of all sizes and across all industries.
"Users can take comfort in knowing that each electronically marked WORM
cartridge is a tamper-proof archived tape that meets the strict requirements of
today's compliance mandates," added Steve Berens, senior director, product
marketing & strategy, for Quantum Storage Devices Business Unit. "Applying
multiple layers of security, DLTIce assures users have a compliance-ready
solution for effective backup, recovery and archiving without sacrificing
performance or value."
Overland Storage regulation compliances solutions, with a starting MSRP of
$16,398, are available now through Overland's network of worldwide reseller and
distribution partners.
About Overland Storage
For almost 25 years, Overland Storage has delivered world-class data protection
solutions designed to ensure business continuity. Focused on backup and
recovery, Overland's data protection solutions include the REO(TM) family of
disk-based backup and recovery appliances and the award-winning NEO SERIES(R)
of tape libraries. Overland sells its products worldwide through leading OEMs,
commercial distributors, storage integrators and value-added resellers. For
more information, visit Overland's website 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," "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. Factors that
could cause or contribute to such differences include production problems,
delays, unbudgeted expenses and inefficiencies that may result from the
transition of manufacturing to Sanmina-SCI, difficulty of predicting sales to
the company's major OEM customer, technology spending levels, unexpected
shortages of critical components, rescheduling or cancellation of customer
orders, loss of a major customer, the timing and market acceptance of new
product introductions by the company, including the company's new REO products,
its competitors or its licensees, 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 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 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.
All trademarks, trade names, service marks, and logos referenced herein belong
to their respective companies.
DATASOURCE: Overland Storage, Inc.
CONTACT: Investors, Cynthia A. Bond, Director of Corporate
Communications, , +1-858-571-5555, or Media, Melinda
Hutcheon, PR Manager, +1-858-495-4187, , both of
Overland Storage; or Jamie Ernst of Brodeur Worldwide, +1-210-495-5757,
, for Overland Storage
Web site: http://www.overlandstorage.com/