AUSTIN, TX--(Marketwired - Apr 2, 2014) - Crossroads Systems, Inc. (NASDAQ: CRDS), a global provider of data protection solutions, today announced a new partnership with New Jersey-based VideoBank, a leading provider of tools for processing, exploiting, and disseminating full-motion video and imagery to generate real-time situational awareness.
Under the partnership, VideoBank's customers will now be offered the Crossroads StrongBox® data protection appliance, a seamless solution that secures and protects content for long-term preservation. The digital asset management (DAM) solutions offered by VideoBank are used by educational institutions, medical facilities, government organizations, entertainment companies, and the U.S. military to manage and distribute video and other content.
VideoBank's customers can deploy StrongBox to solve the ever-growing budget challenges surrounding the storage of mission-critical content. Working seamlessly with VideoBank tools, the complete StrongBox archiving solution (StrongBox plus an LTO 6 library) for 200 TB of content starts at $44,550 -- allowing organizations to archive and protect information without the considerably higher costs associated with disk-based storage.
"Partnering with VideoBank helps further extend StrongBox's reach across several verticals," said David Cerf, executive vice president of strategy and business development at Crossroads Systems. "We're pleased to offer VideoBank's prestigious customers our cost-efficient StrongBox solution for archiving and protecting critical content. From the military, to sports franchises, and post production, organizations face continually increasing storage costs for fast-growing data volumes. StrongBox efficiently addresses this challenge and serves as a significant cost-saving tool alongside VideoBank solutions."
The joint solutions will be showcased April 7-10 at NAB Show in booth SL7624 as well as April 15-17 at GEOINT Symposium in booths 3061 and 1014.
Since 1997, VideoBank has been revolutionizing the ways in which educational institutions, medical facilities, government organizations, entertainment companies and the U.S. military have archived, managed, and distributed their products and services worldwide. More importantly, our systems have transformed the way the men and women of our armed forces gather and utilize intelligence both at home and abroad. At VideoBank we make it our responsibility to stay on the cutting edge of technology, which helps allow business leaders, doctors, teachers, government officials and soldiers to concentrate their energies where they truly belong--on serving their local and global communities.
VideoBank employees dedicate themselves to meeting the needs of our clients. In addition to providing a state-of-the-art COTS product line, we also have extensive experience custom designing, building, and installing advanced asset management systems. While VideoBank software provides the core of the digital asset management solutions we provide, our integration and development teams will work hand-in-hand with members of your organization to design a turnkey solution according to your specifications. Visit www.videobankdigital.com.
About Crossroads StrongBox®
Crossroads StrongBox is a network attached storage (NAS) appliance that is purpose-built to lower the cost of long-term storage and protection for unstructured, fixed content such as video. By pairing a flexible, policy-driven disk cache with Linear Tape File System (LTFS) technology, StrongBox allows organizations to gain unmatched control of storage costs without sacrificing availability of stored content. It provides the data protection and reliability that is needed in firms where digital content is the key ingredient in their business. Visit www.crossroads.com/strongbox.
About Crossroads Systems
Crossroads Systems, Inc. (NASDAQ: CRDS) is a global provider of data archive solutions. Through the innovative use of new technologies, Crossroads delivers customer-driven solutions that enable proactive data security, advanced data archiving, optimized performance and significant cost-savings. Founded in 1996 and headquartered in Austin, TX, Crossroads has been awarded more than 100 patents and has been honored with numerous industry awards for data archiving, storage and protection. Visit www.crossroads.com.
Important Cautions Regarding Forward-Looking Statements
This press release includes forward-looking statements that relate to the business and expected future events or future performance of Crossroads Systems, Inc. and involve known and unknown risks, uncertainties and other factors that may cause its actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "could," and similar expressions or phrases identify forward-looking statements. Forward-looking statements include, but are not limited to, statements about Crossroads Systems' ability to implement its business strategy, including the transition from a hardware storage company to a software solutions and services provider, its ability to expand its distribution channels, its ability to maintain or broaden relationships with existing distribution channels and strategic alliances and develop new industry relationships, the performance of third parties in its distribution channels and of its strategic alliances, changes in the fair value of its derivative instruments and its ability to achieve or maintain profitability. The future performance of Crossroads Systems may be adversely affected by the following risks and uncertainties: uncertainties relating to product development and commercialization, uncertain market acceptance of Crossroads Systems products, including StrongBox, intense competition in the data protection and storage markets, variations in quarterly results and a consequence of unpredictable sales cycles and other factors, the ability to obtain, maintain or protect patent and other proprietary intellectual property rights, technological change in the industry, future capital requirements, regulatory actions or delays and other factors that may cause actual results to be materially different from those described or anticipated by these forward-looking statements. For a more detailed discussion of these factors and risks, investors should review Crossroads Systems' reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, which can be accessed through the SEC's website or by clicking "SEC Filings" on the company's Investor Relations website at http://investors.crossroads.com. Forward-looking statements in this press release are based on management's beliefs and opinions at the time the statements are made. Crossroads Systems undertakes no duty to update this information to reflect future events, information or circumstances.
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