S&P Capital IQ Initiates Coverage on Sphere 3D Corp. in S&P Capital IQ Factual
NEW YORK, Nov. 19, 2013
NEW YORK, Nov. 19, 2013 /PRNewswire/ -- S&P Capital IQ announced today that it
has commenced S&P Capital IQ's Factual Stock Report coverage on Sphere 3D
Sphere 3D Corporation (TSXV: ANY; OTCQX: SPIHF) is a technology development
company focused on establishing its patent pending emulation and
virtualization technology. Recognizing the need to allow for the consolidation
of digital devices and application ecosystems, Sphere 3D is creating
ultra-thin client technology that allows for the ubiquitous access to third
party software on any cloud connected device, independent of the user's
operating system or the local device's hardware limitations. Through Sphere
3D's Glassware 2.0 protocol, users of any Internet connected device can use
any application they want, in whatever version they desire. Glassware 2.0
leverages a cloud environment to deliver a virtual operating system and
hardware that provides full software features and functionality.
Sphere 3D further notes that enterprise clients can provide safe, secure
mobile access to their legacy applications, without the expensive
customization and inherent time and capability trade-offs required by
re-writes to the cloud. The enterprise's employees or business partners access
the enterprise's systems through their own devices or company-provided
equipment, and the enterprise's own network security protocols will apply
without having to make further modifications on the actual devices.
To facilitate the growth of its infrastructure and commercialize its
technology within the enterprise market, on July 16, 2013, the company entered
into a supply agreement and a technology licensing agreement with Overland
Storage, Inc., which grants Overland licensing rights in the enterprise
market. Pursuant to the supply agreement, the company has agreed to procure
cloud infrastructure solutions from Overland for the next ten years. Pursuant
to the technology license agreement, the company has granted a license for its
Glassware 2.0 technology to Overland for the enterprise and business market.
Sphere 3D noted that on November 1, 2013, its commercial partner and
distributor, Overland Storage signed a definitive agreement to acquire
Tandberg Data, a privately held provider of data storage and data protection
solutions that generated revenue for the twelve months ended June 30, 2013 of
approximately $60 million on a US GAAP basis. Sphere 3D said due to the
transaction, it will now have access to 16,000 resellers globally.
On September 16^th, 2013, Sphere 3D announced that it signed a definitive
agreement with Corel Corporation to act as Value Added Reseller and
Distributor for Corel® Office and Corel® PDF Fusion™. Under the terms of the
agreement, Sphere 3D will electronically distribute these award winning office
productivity software titles to end users in one of 3 formats: a standard
desktop version; a Virtual Desktop Instance (VDI); or mobile software versions
powered by Sphere 3D's Software Virtualization solution, Glassware 2.0TM.
On October 4, 2013 the "Company announced it joined the VMware Technology
Alliance Partner (TAP) program as an Elite level partner. Elite members of the
TAP program collaborate with VMware to integrate and validate their products
with VMware solutions.
On October 31, 2013 Sphere 3D commenced trading on the OTCQX market. Roth
Capital Partners serves as the company's Principal American Liaison ("PAL") on
OTCQX, responsible for providing professional guidance on OTCQX requirements.
The company was formerly known as T.B. Mining Ventures Inc. and changed its
name to Sphere 3D Corporation in December 2012. Sphere 3D Corporation was
founded in 2007 and is based in Mississauga, Ontario, Canada.
S&P Capital IQ's Factual Stock Report coverage on Sphere 3D Corp. will also be
accessible on an ongoing basis to the investment community by scores of
buy-side institutions and sell-side firms that utilize S&P Capital IQ research
and information platforms daily. Millions of self-directed investors also have
access to the report via their e-brokerage accounts. Please visit
http://www.sphere3d.com for additional information.
About S&P Capital IQ's Factual Stock Reports
Currently profiling approximately 500 issuers, Standard & Poor's Factual Stock
Reports, produced by S&P Capital IQ, increase market awareness of issuers in
the investment community with insightful commentary and key statistics and
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investment opinions concerning the advisability of investing in these stocks.
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Sphere 3D Corporation
S&P Capital IQ
Richard Albanese, 212-438-3647
Michael Privitera, 212-438-6679
SOURCE S&P Capital IQ
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