<PAGE>
Exhibit 99.1
FOR IMMEDIATE RELEASE
July 19, 2000
STORAGETEK SIGNS AGREEMENT
TO LICENSE OVERLAND'S VR(2)
SAN DIEGO, Calif...Overland Data Inc. (NASDAQ: OVRL), a technology leader in
tape backup products, today announced that StorageTek-TM- (Storage Technology
Corp., NYSE: STK), one of the foremost providers of enterprise and network
storage, has signed a definitive agreement to license Overland's patented
Variable Rate Randomizer (VR(2)-TM-) technology. This agreement consummates
the Letter of Intent between the parties which was previously announced on
April 18, 2000.
Overland's VR(2) technology will be integrated broadly into future
offerings of StorageTek's industry-leading 9840 tape drive technology, both
access-centric and capacity-centric versions.
StorageTek is the preeminent provider of network computing storage,
offering solutions that help its customers save money, time, and resources
through the effective storage of all types of digital content on platforms
ranging from laptops to enterprise servers. StorageTek's 9840 is the data
storage industry's premier fast access and restore tape drive. It is the leader
in Fibre Channel applications, including rapidly growing Storage Area Networks
(SANs). With Overland's VR(2) being incorporated into
- more -
<PAGE>
STK SIGNS AGREEMENT TO LICENSE VR(2) 2-2-2
future storage solutions, users will find StorageTek's product offerings even
more robust and cost-effective than before.
Overland's VR(2) substantially increases the capacity and throughput of
linear tape formats. The first successful implementation of Partial Maximum
Likelihood (PRML) channel encoding technology on linear tape drive platforms,
VR(2) can increase native capacity and native data transfer rate performance of
existing linear tape technologies by as much as 50 to 100 percent without
requiring any changes in tape path design, recording heads and/or media. This is
accomplished by achieving rate efficiency of greater than 99 percent, making it
one of the most effective PRML implementations ever developed.
"The best way to succeed in today's competitive marketplace is to make
a great product even better," said Roger Archibald, StorageTek vice president
and general manager, enterprise business group. "With the addition of Overland's
VR(2), we are able to ensure that our innovative storage solutions stay the most
attractive offerings available today and in the future. This partnership will
continue StorageTek's tradition of solving users' needs effectively."
Scott McClendon, president and CEO of Overland, said, "We are thrilled
to be partnering with a verified data storage leader like StorageTek. We
believe, the addition of our VR(2) technology to StorageTek's preeminent
products will set the pace for reliable, high-performance solutions at an
attractive price point today and in the future."
- more -
<PAGE>
STK SIGNS AGREEMENT TO LICENSE VR(2) 3-3-3
With its formal adoption of Overland's VR(2) technology, StorageTek
joins a select group of licensees that include Imation, Seagate and Tandberg
Data.
ABOUT STORAGETEK
StorageTek is the only global information storage provider to use
"Open, Intelligent and Integrated"-TM- solutions to promote the efficient use of
critical information and remove the information management constraints that
inhibit business growth. Our competencies - tape and tape automation, virtual
storage and open SANs (storage area networks) - efficiently manage the explosion
of information, and save time, money and resources. StorageTek, with
headquarters in Louisville, Colo., reported revenue of $2.4 billion in 1999.
Information on StorageTek is available at www.storagetek.com or phone (800)
786-7835.
ABOUT OVERLAND
Overland Data, Inc. (NASDAQ: OVRL) is a global supplier of innovative
data storage and storage automation solutions for computer networks. The
company's award-winning DLT LibraryXpress-TM- SmartScale Storage-Registered
Trademark- architecture has set new standards for intelligent automated storage
and scalability and established Overland as a leader in the mid-range tape
storage market. Today, Overland is broadening its product line and technology
offerings to address additional segments of the storage market, including the
entry-level small business market, as well as the higher-end enterprise
environment. Overland's patented Variable Rate Randomizer (VR(2)) data
- more -
<PAGE>
STK SIGNS AGREEMENT TO LICENSE VR(2) 4-4-4
encoding technology, capable of substantially increasing the capacity and
throughput of linear tape formats, is being applied by the Company to Travan
tape drives, and has been licensed to Seagate Technology, Tandberg Data and
Imation Corporation. Overland products, acclaimed for their quality and
reliability, are sold worldwide through leading OEMs, including Compaq, IBM,
Fujitsu Siemens Computers and Groupe Bull, commercial distributors such as
Ingram Micro, Tech Data Corporation, and Bell Microproducts, as well as storage
integrators and value-added resellers.
###
*DLT AND DLTTAPE ARE REGISTERED TRADEMARKS OF QUANTUM CORPORATION WORLDWIDE.
STORAGETEK AND "OPEN, INTELLIGENT AND INTEGRATED" ARE TRADEMARKS OF STORAGE
TECHNOLOGY CORPORATION.
--------------------------------------------------------------------------------
Except for the factual statements made herein, the information contained in this
press release consists of forward-looking statements that involve risks,
uncertainties and assumptions that are difficult to predict. Words and
expressions reflecting optimism and satisfaction with current prospects, as well
as words such as "believe," "intends," "expects," "plans," "anticipates," and
variations thereof, identify forward-looking statements, but their absence does
not mean that a statement is not forward-looking. Such forward-looking
statements are not guarantees of performance, and the Company's actual results
could differ materially from those contained in such statements. Factors that
could cause or contribute to such differences include unexpected shortages of
critical components, rescheduling or cancellation of customer orders, loss of a
major customer, the timing and market acceptance of new product introductions by
the Company and its competitors, general competition and price pressures in the
marketplace, and the Company's ability to control costs and expenses. Reference
is also made to other factors set forth in the Company's filings with the
Securities and Exchange Commission including the "Risk Factors," "Management's
Discussion and Analysis" and other sections of the Company's Form 10-K for the
most recently completed fiscal year. These forward-looking statements speak only
as of the date of this release, and the Company undertakes no obligation to
publicly update any forward-looking statements to reflect new information,
events or circumstances after the date of this release.
--------------------------------------------------------------------------------
CONTACT INFORMATION:
OVERLAND DATA: (858) 571-5555
World Wide Web: http://www.overlanddata.com
PRODUCT INFORMATION: INVESTOR RELATIONS INFORMATION:
Steve Richardson, VP of Marketing Scott McClendon, President & CEO
Email: [email protected] Email: [email protected]
Vernon LoForti, CFO
Email: [email protected]
AGENCY: Judy Smith
- more -
<PAGE>
STK SIGNS AGREEMENT TO LICENSE VR(2) 5-5-5
JPR Communications
(818) 386-0403
Email: [email protected]
Home Page: http://www.jprcom.com
