Overland Storage, Inc. (OVRL) Forms Manufacturing Partnership with Foxconn Group

In the company’s news yesterday,

Overland Storage, Inc. disclosed details of a strategic manufacturing agreement with Foxconn Technology Group. This agreement will initially result in a collaborative effort between the companies to manufacture a line of Overland’s end-to-end data protection (EDP) solutions. This is an important move forward for Overland, leading to an increased manufacturing capacity and improved operating efficiency.

EDP is a data protection model for continuous validation of data integrity at the origin and destination within a given computer system.

Foxconn is the biggest multinational Computer, Communication and Consumer-electronics (3C) provider of manufacturing services and has a proven track record of joint-design and development. Foxconn is a recognized industry leader, recently ranking in the top 10 of BusinessWeek’s IT 100 and the Fortune Global 500. The company’s innovation and technical prowess is further confirmed by its holding of over 15,000 patents, placing it among the cream of the crop in such standards as MIT’s patent scorecard. Foxconn is known to be China’s largest contemporary exporter and is the second largest exporter in the Czech Republic.

CEO of Overland Storage, Eric Kelly signified this expansion of his company’s potential in the global marketplace by saying, “Foxconn’s award-winning business model should prove invaluable as we continue to improve Overland’s operational efficiencies and cost structure.”

Kelly went on to say that by leveraging both company’s IP portfolios and expertise, Overland would be able to significantly transform its operations, expanding its sales base worldwide by partnering with a tier-one manufacturer like Foxconn.

This sentiment was confirmed in a statement by Jackson Shih, VP of Foxconn, where he expressed his pleasure over being selected as a “strategic partner in Overland Storage’s supply chain solution”, and noted that this agreement would produce “significant synergistic benefits to both parties.”

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