Sphere 3D Awarded Contract Valued at Approximately $3 Million
March 30 2017 - 8:32AM
Sphere 3D Corp. (NASDAQ:ANY), a containerization, virtualization
and data management solutions provider, is pleased to announce that
it has been awarded a contract valued at approximately $3 million
to provide a next-generation campus network and architecture to
support a smooth evolution to Software-Defined Networking (SDN) for
an Independent School District (“ISD”) that is an existing customer
of its HVE virtualization group.
This second phase of digital transformation for
this ISD comes after they began their IT modernization through the
implementation of HVE solutions for server virtualization at some
of their campuses. Implementation for this phase has already
commenced and is expected to be completed over the next few
months.
It is anticipated that this ISD will continue
with additional phases of completing its network upgrades later
this year to support future requirements for its longer-term
software defined data center initiatives aimed to benefit both
students and faculty.
“Our decision to acquire HVE ConneXions and UCX
ConneXions was largely based on our desire to provide Sphere 3D
partners and customers with world class engineering and
architectural support for their IT transformation initiatives.
Today’s announcement, together with a number of other customer wins
announced over the last few weeks, is a positive indicator that our
strategy to increase adoption of the virtualization product
portfolio is gaining momentum,” stated Eric Kelly, chairman and CEO
of Sphere 3D.
HVE ConneXions (“HVE”), a hybrid cloud
technology company focused on converged and hyperconverged
infrastructure, along with its sister company, Unified ConneXions,
Inc. (“UCX”), which provides IT professional, architectural design
and monitoring services to corporate, government, and educational
institutions, were acquired by Sphere 3D in January of this year.
By adding HVE and UCX’s world-class products, technologies,
professional services and engineering talent, Sphere 3D has
expanded its virtualization practice as well as enhanced its
ability to accelerate the delivery of hybrid cloud solutions to
customers.
About Sphere 3DSphere 3D Corp. (NASDAQ:ANY)
delivers containerization, virtualization, and data management
solutions via hybrid cloud, cloud and on-premises implementations
through its global reseller network and professional services
organization. Sphere 3D, along with its wholly owned subsidiaries
Overland Storage, and Tandberg Data, has a strong portfolio of
brands, including HVE ConneXions and UCX ConneXions, dedicated to
helping customers achieve their IT goals. For more information,
visit www.sphere3d.com. Follow us on Twitter @Sphere3D,
@overlandstorage, and @tandbergdata
Safe Harbor Statement
This press release contains forward-looking
statements that involve risks, uncertainties, and assumptions that
are difficult to predict. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of risks and uncertainties,
including the decision by our customers to continue to purchase our
products and services; our inability to comply with the covenants
in our credit facilities or to obtain additional debt or equity
financing; any increase in our future cash needs; our ability to
successfully integrate the UCX and HVE ConneXions business with
Sphere 3D's other businesses; our ability to regain
compliance with the NASDAQ minimum closing bid price requirement
between now and July 31, 2017; our inability to take other actions
to regain compliance with the NASDAQ minimum closing bid price
requirement; our ability to maintain compliance with other NASDAQ
Capital Market listing requirements; unforeseen changes in the
course of Sphere 3D’s business or the business of its wholly-owned
subsidiaries, including, without limitation, Overland Storage and
Tandberg Data; market adoption and performance of our products; the
level of success of our collaborations and business partnerships;
possible actions by customers, partners, suppliers, competitors or
regulatory authorities; and other risks detailed from time to time
in Sphere 3D’s periodic reports contained in our Annual Information
Form and other filings with Canadian securities regulators
(www.sedar.com) and in prior periodic reports filed with the United
States Securities and Exchange Commission (www.sec.gov). Sphere 3D
undertakes no obligation to update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise, except as required by law.
Investor Contact:
The Blueshirt Group
Mike Bishop
Tel: +1 415-217-4968
mike@blueshirtgroup.com
Press Contact:
Tina Brown
Tel: +1 408-283-4731
media.relations@sphere3d.com
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