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Hitachi IT and FalconStor Reach Initial Memorandum of Understanding for Technology Cooperation

  • 10 December, 2004 11:16

<p>TOKYO, – December 10, 2004-FalconStor Software, Inc. (Nasdaq: FALC), a leading developer of network storage software solutions, today announced that the company has reached an initial understanding for technology cooperation with Hitachi Information Technology Co., Ltd., with both companies signing a letter of intent to collaborate on future business opportunities.</p>
<p>Imai Yasuhiro, Hitachi IT system solution division GM and Board director, remarked that the latest efforts of cooperation are from FalconStor's IPStor software solution's ability to concentrate on unifying storage management of "the critical and enormous quantity of data which the customer possesses. From management of storage in its physical and logical form, IPStor maintains data availability and access, offering a solution addressing existing storage such as NAS and SAN. For the customer, it means proven data availability and the convenience of centralised storage management."</p>
<p>FalconStor's flagship product, IPStor®, delivers an intelligent SAN/NAS infrastructure across heterogeneous environments by providing a comprehensive set of storage services for enterprise applications - simplifying management, ensuring data availability and recoverability, and maximising performance. IPStor manages backup and recovery and eases the addition and management of disk and server. IPStor can be implemented as a total network storage solution, and can be leveraged by Hitachi IT, solutions integrators and end users.</p>
<p>"A storage software solution that utilises a company's existing network storage architecture is an important element to maximise return on investment," said Alex Jiang, FalconStor vice president of sales and marketing for Asia Pacific. "The network and security technology offered by Hitachi IT makes for a compelling and powerful solution when combined with IPStor."</p>
<p>"Today's announcement of understanding with Hitachi IT expands our existing relationship with Hitachi - in the U.S., Hitachi Data Systems has been using IPStor to power its migration appliance," said Noboru Aoki, sales vice president and director of FalconStor Japan. "The opportunity to work with Hitachi IT in Japan by participating as a new partner is a natural evolution of our association. Hitachi IT is well known for its development of new technology, especially relating to networking, and this relationship will allow the chance to immediately capitalise on new market opportunities."</p>
<p>Furthermore, on December 9th, at the Hitachi IT head office in Osaki, FalconStor Chairman and CEO ReiJane Huai will be presenting an Engineering seminar on the "Possibility of networks strategy and new business" at the Hitachi-IT Solution/Fair 2004. Further details are available by visiting www.hitachi-it.co.jp/news/041103.htm.</p>
<p>About Hitachi Information Technology Co., Ltd.</p>
<p>Hitachi Information Technology Co., Ltd., established in 1978, has developed business with a focus on "the network solution" and "design technical service." Hitachi IT is especially concentrating its efforts into network integration, utilising its own development with that of other companies, including network equipment manufacturers of small-sized routers. Hitachi IT is recognised as a "Gold Partner" with Cisco Systems, with "IP Telephony Revised Specialisation." In addition, Hitachi IT solutions provides comprehensive system solutions, including networking technology. Hitachi IT also is involved in the development and sale of Lotus Notes/Domino applied products and is recognised in the "Partner World for Software premiere partners" of IBM Corporation. For more information, visit www.hitachi-it.co.jp, and for press inquiries, email info-falconstor@hitachi-it.co.jp.</p>
<p>About FalconStor</p>
<p>FalconStor Software, Inc. (Nasdaq: FALC) is a leading developer of network storage software designed to optimise the storage, protection and availability of enterprise data. FalconStor's flagship product, IPStor, enables corporate IT to deploy a hardware-agnostic, network-centric foundation to maximise operating efficiency and business continuity, and to meet the availability requirements of mission-critical applications. IPStor-powered network storage solutions are available and supported by major OEMs, as well as system integrators and resellers worldwide.</p>
<p>Founded in 2000, FalconStor is headquartered in Melville, NY, with offices throughout Europe and the Asia Pacific regions including Paris, Tokyo and Taiwan. FalconStor is an active member of the Technical Support Alliance Network (TSANet), Storage Networking Industry Association (SNIA) and Fibre Channel Industry Association (FCIA). For more information, visit www.falconstor.com.</p>
<p>This press release includes forward-looking statements that involve risk and uncertainties that could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties include: delays in product development; market acceptance of FalconStor's products and services; technological change in the storage and networking industries; competition in the storage networking software market; the potential failure of FalconStor's OEM partners to introduce or to market products incorporating FalconStor's products; intellectual property issues; and other risk factors discussed in FalconStor's reports on Forms 10-K, 10-Q and other reports filed with the Securities and Exchange Commission.</p>
<p>###</p>
<p>FalconStor and IPStor are trademarks or registered trademarks of FalconStor Software, Inc. All other company and product names contained herein may be trademarks of the respective holders.</p>
<p>Media Contacts:</p>
<p>Rob Stirling
Markom Marketing
+61 2 9977 8922
robstirling@markom.com.au</p>
<p>Joel Norton
FalconStor Software
+61 2 8912 2153
joel.norton@falconstor.com</p>

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