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  • Shareholders Approve Overland Storage's (OVRL) Acquisition Of Tandberg Data 0 comments
    Jan 22, 2014 3:13 PM | about stocks: OVRL

    Trusted global unified data management and data protection solutions provider Overland Storage announced it has received the needed shareholder votes to complete its acquisition of Tandberg Data Holdings S.à r.l. Tandberg Data is a privately held global data storage and data protection solutions leader.

    All proposals relating to the acquisition that were subject to a shareholder vote were approved at Overland's special shareholders meeting, which took place on Jan. 16. The transaction was approved by Overland's shareholders, with 99.8 percent of shareholder votes being cast in favor of required matters for completing the acquisition. With both companies combined, Overland will expand its number of global channel and service partners to offer one of the most extensive and complementary product lines and service offerings in the enterprise storage industry. The acquisition will also expand Overland's reach in APAC, Europe, and the Middle East, and the company will be able to leverage its world-class Chinese manufacturing facility to improve operational efficiencies and meet customer demand.

    Overland's leadership team, following the closing of the acquisition, will feature the following experienced and accomplished executives: Eric Kelly, president and CEO; Kurt Kalbfleisch, CFO; Randy Gast, COO; Lisa Loe, vice president of WW Mobility & Cloud Services, Americas, Asia Pacific sales; Scott Petersen, vice president of WW OEM sales and government; Graham Paterson, vice president of EMEA sales; Trevor Heathorn, vice president of Overland Engineering; and Carol Dixon, vice president of global human resources.

    Overland will add two new board members as part of the agreement, which will expand the company's board of directors to seven members.

    For more information, visit overlandstorage.com

    MissionIR provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.missionir.com

    Stocks: OVRL
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