Overland Shareholders Approve Acquisition of Tandberg

Overland Storage, Inc. has received the shareholder votes necessary to complete its acquisition of Tandberg Data Holdings S.à r.l.

All proposals subject to a shareholder vote at Overland’s special meeting of shareholders held on January 16, 2014 were approved at such meeting.

Eric Kelly, president and CEO, Overland Storage, commented: “We are delighted the Overland Storage shareholders approved the acquisition of Tandberg Data. The transaction was overwhelmingly approved by our shareholders with 99.8% of the votes cast in favor of the matters required to complete the acquisition. With the combination, we will expand our number of global channel and service partners, and offer one of the most extensive and complementary product lines and service offerings in the enterprise storage industry. The acquisition will expand our reach in APAC, Europe and the Middle East, and will allow us to leverage our world-class manufacturing facility in China to improve operational efficiencies and meet customer demand.”

The leadership team of Overland following the closing will consist of:

• Eric Kelly, president and CEO
• Kurt Kalbfleisch, CFO
• Randy Gast, COO
• Lisa Loe, VP of WW mobility & cloud services, Americas, AsiaPac Sales
• Scott Petersen, VP of WW OEM sales and government
• Graham Paterson, VP of EMEA sales
• Trevor Heathorn, VP of Overland engineering
• Carol Dixon, VP of gobal human resources

As part of the agreement, Overland will add two new board members, expanding its board of directors to seven.

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