NetworkNewsBreaks – Sphere 3D (NASDAQ: ANY) Inks Deal to Acquire HVE and Unified ConneXions; Shares Higher

Shares of Sphere 3D (NASDAQ: ANY) are up 28% after the data management company said it will acquire HVE (Hybrid Virtualization Engine) ConneXions and its sister company, Unified ConneXions, Inc., which achieved combined virtualization revenue of more than $7 million for calendar year 2016. The acquired companies’ products, technologies and professional services will expand Sphere 3D’s virtualization practice and increase its ability to accelerate the delivery of hybrid cloud solutions. The acquisition is anticipated to close before January 31, 2017, and is expected to be accretive in the first quarter of 2017.  “UCX has exceptional leadership teams, innovative technology, industry recognized engineering talent, and an outstanding track record of delivering next generation solutions to their customers. We are honored to welcome them into the Sphere 3D family, and together we will build on our combined history of innovation and partnership with our customers to deliver data center solutions that support advanced IT strategies and business requirements,” Sphere 3D CEO and Chairman Eric Kelly stated in the news release.

To view the full press release, visit: http://nnw.fm/763Bf

About Sphere 3D Corp.

Sphere 3D (NASDAQ: ANY) delivers data management, and desktop and application virtualization solutions via hybrid cloud, cloud and on-premise implementations through its global reseller network. Sphere 3D, along with its wholly-owned subsidiaries Overland Storage and Tandberg Data, has a strong portfolio of brands including Glassware 2.0™, NEO®, RDX®, SnapCLOUD™, SnapScale®, SnapServer®, SnapSync™ and V3®.  For more information, visit www.sphere3d.com.

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