Overland Storage Announces New Silicon Valley Location
March 17 2010 - 1:00PM
Marketwired
Overland Storage (NASDAQ: OVRL), the trusted global provider of
effortless data management and data protection solutions across the
data lifecycle, today announced that it has completed plans for a
July 2010 move from its Milpitas, California office to a new
location in downtown San Jose, California. The newly designed
offices in San Jose's Cityview Plaza Towers will accommodate
current staff, centralizing the company's sales and marketing
organizations, and provide room for expansion to keep pace with
planned growth for the organization. Overland's new location offers
a modern, open layout created to provide a working environment that
fosters creativity and the open exchange of ideas among Overland
employees and between Overland's staff and clients.
"Silicon Valley is widely recognized as a center of excellence
for the high tech industry. We have carefully selected Overland's
new location to take advantage of that reputation and provide our
team a great work environment," said Eric Kelly, president and CEO
of Overland Storage. "Employees will be within walking distance to
countless restaurants, hotels and art and cultural venues. In
addition, our team will have walking access to public
transportation and new housing options, offering employees
efficiencies in their work day travel by facilitating walking,
biking and use of public transportation. We recognize that access
to travel alternatives not only offers many benefits to our team,
but to the community as well, by promoting less stress, cleaner
air, reduced consumption of resources and less traffic
congestion."
Jonathan Praw, vice president of BPG Properties, the group that
owns Cityview Plaza, also pointed to the region's rich history as a
high tech pioneer as the reason why companies find San Jose a great
place to do business. "Silicon Valley has the highest concentration
of high tech workers of any metropolitan area, and downtown San
Jose has long been recognized as the Capital of Silicon Valley,"
said Praw. "As a recent winner of multiple awards recognizing
excellence in facilities and building management, we are proud of
Cityview Plaza and pleased that Overland Storage has chosen it for
their new Silicon Valley location. With onsite retail services,
high-end restaurants, a fitness facility and state of the art
conference center, Cityview Plaza provides a premiere facility and
ideal location for Overland and its employees."
With the announcement of Dr. Geoff Barrall as CTO and vice
president of engineering earlier this month, the company will also
be combining its product management and product development groups
for disk-based data storage at the new location. This will allow
Overland to enhance collaboration and accelerate the development of
next generation storage technologies.
As part of his employment agreement, Dr. Barrall was granted an
inducement stock option for the purchase of up to 218,356 shares of
its common stock in accordance with NASDAQ Listing Rule 5635
(c)(4).
Overland's move to the Cityview Plaza Tower location will
initially occupy 21,000 square feet of the 159,000 square foot
13-floor tower, with the option to occupy additional space as the
company further expands its sales, marketing and engineering
efforts. Overland will continue to operate out of its current
Milpitas location until July 2010, after which its new Silicon
Valley address will be: 125 South Market Street, San Jose,
California 95113.
About Overland Storage Overland Storage is
the 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. Whether distributed data is across the hall or across
the globe, Overland enables companies to focus on building their
business instead of worrying about data growth. Overland
SnapServer®, NEO® and REO® solutions are available through a select
network of value added resellers and system integrators. For more
information, visit www.overlandstorage.com
Overland Storage, NEO, SnapServer, REO and the Overland logo are
trademarks of Overland Storage, Inc. that may be registered in some
jurisdictions; all other trade names herein are recognized to be
the property of their respective owners.
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Media Contact: Elizabeth Zaborowska Bhava Communications Email
Contact 510.219.8127
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