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 Corp.
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 16th, 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 information. Standard & Poor's Factual Stock Reports provide factual research coverage about company fundamentals and business prospects, thereby enabling information about covered companies to reach a wide investor audience of Buy and Sell-side investors. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is underwritten by the issuer, S&P Capital IQ does not offer investment opinions concerning the advisability of investing in these stocks.
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Sphere 3D Corporation
S&P Capital IQ
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