February 18, 2014

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Article

V3 Systems to be Acquired by Sphere 3D Corporation

Press Release

February 18, 2014

Salt Lake City — Sphere 3D Corporation has entered into a definitive agreement to acquire V3 Systems, Inc. Founded in 2010 and based in Salt Lake City, Utah, V3 provides desktop cloud management solutions. V3 is the creator of the Desktop Cloud Orchestrator ("DCO") software.

"This acquisition will quickly add breadth to our overall product portfolio, and fast tracks our transition to commercial operations with accretive revenue from day one," said Sphere 3D's CEO Peter Tassiopoulos.

Sphere 3D has been working closely with V3 for several months and began shipping V3 appliances to customers in January. Sphere 3D and its global licensee, Overland Storage Inc., have expanded their relationship to include the V3 offering and will embed some of Overland's Network Assisted Storage (NAS) and Clustered Storage technology within the product suite to create new Software Defined Storage capability.


 

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