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Sphere 3D Continues to see Larger Customer Wins for HVE after Being Awarded another Contract in Excess of $1 Million

SAN JOSE, Calif., Oct. 03, 2017 (GLOBE NEWSWIRE) -- Sphere 3D Corp. (NASDAQ:ANY), a containerization, virtualization, and data management solutions provider, is pleased to announce that HVE has been awarded a contract with a value that exceeds $1 million

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“This recent win was just one of many opportunities we are working on that have the capacity to become million dollar accounts for us,” said Joseph O’Daniel, President of Virtualization and Professional Services at Sphere 3D. He added, “We are now also seeing some of our new channel partners introducing our product portfolio, and its many customer benefits, to accounts globally. We believe that this activity will translate to additional growth for us through the rest of this year and the foreseeable future.”

Through HVE, Sphere 3D provides converged and hyperconverged infrastructure based on proven virtualization technologies running on high-performance, next generation platforms. Recently the company announced a new HyperConverged Infrastructure (HCI) 2.0 architecture that provides a small 2-node footprint for converged compute and storage, scales to 64 nodes, and is delivered on HVE appliances with all flash and/or NVMe configurations. Customers can deploy HCI 2.0 faster, with a reduced initial financial commitment, a lower Total Cost of Ownership (TCO), and with greater flexibility to scale compute or storage separately than traditional HCI.

HCI 2.0 was developed to enable an open software defined datacenter approach that empowers customers to introduce new technologies into their data center ecosystem, and marks a paradigm shift from traditional HCI logic. Traditional HCI solutions force vendor lock-in for customers, tightly couple the compute and storage, and require scaling of these resources in a closed and predefined correlation of capacity and capability.

HVE HCI 2.0 hardware platforms include the HVE “Business In A Box” (BIX) converged servers that can be configured from 3TB-20TB usable storage per appliance, the HVE-STACK 2U 4 blade system supporting 3TB-12TB per blade, and HVE VDI Appliances. For additional information go to www.hveconnexions.com.

About Sphere 3D

Sphere 3D Corp. (NASDAQ:ANY) delivers containerization, virtualization, and data management solutions via hybrid cloud, cloud and on-premise 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 Overland-Tandberg, 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, @HVEconneXions and @ovltb.

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 continued market adoption, actual performance and functionality of our products; 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 maintain compliance with NASDAQ Capital Market listing requirements; our ability to successfully integrate the UCX and HVE ConneXions business with Sphere 3D's other businesses; 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; 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.

Press Contact:
Tina Brown
Tel: +1 408-283-4731
media.relations@sphere3d.com  

Investor Contact:
The Blueshirt Group
Lauren Sloane
Tel: +1 415-217-2632
lauren@blueshirtgroup.com

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