SAN JOSE, Calif., May 13, 2015 (GLOBE NEWSWIRE) -- Sphere 3D Corp. (Nasdaq:ANY), creator of the Glassware 2.0® container technology for application delivery, today announced it has signed a Master Purchase Agreement for virtualization products and related services with Novarad. This new agreement is in addition to the current agreement between the two companies.
Under the terms of the agreement, Sphere 3D and Novarad will establish a rolling 90 day schedule for refreshing healthcare facilities with virtualization technology throughout the United States. It is anticipated that the first sites will be implemented in the third quarter of 2015. The solutions to be rolled out will be configured to address the specific needs of each facility, and will include a combination of virtualization technologies including the award-winning V3 hyper-converged platform, Glassware 2.0, and SnapScale® and SnapServer® lines of storage products.
"This agreement is the largest multisite supply agreement we have entered into that leverages the advantages of our vertically integrated stack of virtualization and storage technologies," said Eric Kelly, CEO, Sphere 3D Corp. "We value our long-standing relationship with Novarad, and we look forward to contributing to their success as they implement new healthcare solutions for their customers."
Healthcare IT needs for enhanced security, coupled with demands for anywhere, anytime access to patient data, have challenged conventional workstation deployment models. Virtualization has been gaining traction in healthcare facilities, including hospitals and clinics, primarily as a result of its ability to meet these demands head on and to deliver increased accessibility to actionable data.
"We initially envisioned NovaGlass as a solution that will leverage our PACS and RIS solutions to give users access to full imaging features from additional endpoints. However, over the last 12 months, it has evolved to significantly more," said Tim Law, President, Novarad. "Today, having worked closely with the team at Sphere 3D and spent time canvassing our customers, we see NovaGlass as a platform that enhances clinical workflow and can increase our ability to positively impact patient outcomes."
The use of hyper-converged infrastructure to deliver virtual desktops and applications provides healthcare IT departments with a simple and predictable approach to adopting virtual workspaces. The use of virtual workspaces within healthcare settings allows IT to keep data in the data center and off the end user devices. This approach not only provides for greater data control and security, but improves clinical workflow, enhances accessibility to that workflow and reduces the cost of replacing dedicated workstations. In addition, it is designed to enable IT departments to reduce costs and complexity associated with maintaining patches, versioning and updating of software across their organization.
About Sphere 3D
Sphere 3D Corp. (Nasdaq:ANY) is a virtualization technology and data management solutions provider with a portfolio of workload-optimized, purpose-built solutions that address the complete IT workspace delivery and management including the data lifecycle continuum from active data to data at rest. Dedicated to continue to lead through innovation, Sphere 3D enables the integration of virtual applications, virtual desktops, and storage platforms, allowing organizations to deploy a combination of public, private or hybrid cloud strategies. Sphere 3D's Glassware 2.0 platform delivers virtualization of some of the most demanding applications in the marketplace today, making it easy to move applications from a physical PC or workstation to a virtual environment. Sphere 3D's V3 hyper-converged infrastructure solutions include one of the industry's first purpose-built appliances for virtual workspace workloads and the Desktop Cloud Orchestrator™ management software for VDI. Overland Storage and Tandberg Data, wholly-owned subsidiaries of Sphere 3D, provide an integrated range of technologies and services for primary, nearline, offline, and archival data storage that make it easy and cost-effective to manage different tiers of information over the data lifecycle. For more information, visit www.sphere3d.com.
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, without limitation, any failure of Sphere 3D to secure additional capital to fund operations; any failure by Sphere 3D or Novarad to deliver on its obligations under the Master Purchase Agreement referred to herein; the rate of customer adoption of our products and technologies and those of Novarad to be sold to the healthcare facilities described herein; the ability to increase our revenue as a result of our Novarad relationship; any increase in Sphere 3D's cash needs or in expected expenses; possible actions by customers, 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), and risks detailed in the Form F-4/A relating to Sphere 3D's merger with Overland Storage filed with the SEC. 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.