Overland Storage Board of Directors to Evaluate Proposal From Cyrus Capital
SAN DIEGO, CA -- (Marketwired) -- 05/28/13 -- Overland Storage
(NASDAQ: OVRL), a trusted global provider of effortless data
management and data protection solutions across the data lifecycle,
today confirmed it has received a proposal from Cyrus Capital
Partners L.P., the owner of Tandberg Data (Holdings) Sarl, for a
potential business combination between Overland and Tandberg.
Consistent with its fiduciary and legal duties, Overland's Board of
Directors will evaluate this proposal and other strategic
alternatives carefully. Overland has retained Roth Capital Partners
as its financial advisor to assist it with this process.
About Overland Storage
Overland Storage is a trusted global provider
of effortless data management and data protection solutions across
the data lifecycle. By providing an integrated range of technologies
and services for primary, nearline, offline, archival and cloud data
storage, Overland makes it easy and cost effective to manage
different tiers of information over time. Overland SnapScale(TM),
SnapServer(R), SnapSAN(R), NEO(R) and REO(R) solutions are available
through a select network of value added resellers and system
integrators. For more information, visit
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Overland Storage, SnapScale, SnapSAN, SnapServer, NEO Series, REO
Series and the Overland logo are trademarks of Overland Storage,
Inc., that may be registered in some jurisdictions. All other
trademarks used are owned by their respective owners.
Investor Relations Contact:
Todd Kehrli or Jim Byers
MKR Group Inc.
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