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Wed, Jul 30, 2014, 9:24AM EDT - US Markets open in 6 mins


Overland Storage(R) Enters Into Strategic Partnership With BDT and Settles Patent Lawsuit
Marketwired Overland Storage
2 minutes ago

SAN DIEGO, CA--(Marketwired - Jul 30, 2014) - Overland Storage, Inc. (NASDAQ: OVRL), a trusted global provider of unified data management and protection solutions across the data lifecycle, today announced that it has settled all claims in its patent infringement litigation filed against BDT Media Automation GmbH. As part of the settlement agreement, Overland Storage has entered into a patent cross-license agreement with BDT Media Automation GmbH and a strategic investment in Overland Storage by BDT.

The settlement and cross-license agreement effectively concludes Overland Storage's 2012 lawsuit filed in the U.S. District Court for the Southern District of California, and with the United Stated International Trade Commission, against BDT AG; BDT Products, Inc.; BDT-Solutions GmbH & Co. KG; BDT Automation Technology (Zhuhai FTZ) Co., Ltd.; and BDT de Mexico, S. de R.L. de C.V. The litigation pertained to partitioning media elements and the "mail slot" feature in automated media devices. In addition, Overland Storage agreed to dismiss with prejudice Case Number 12-cv-1598-JLS brought by Overland against PivotStor, LLC.

"We are pleased that we are able to settle the litigation and move forward as partners," said Eric Kelly, CEO of Overland. "We can now focus on growing our market position in the tape and automation segment in collaboration with BDT and provide even greater choice for our customers."