Deal will lead to further development of Crossroad’s StrongBox technology.
Crossroads Systems Inc., an Austin, Texas-based provider of data protection solutions, has signed a number of agreements with Boston-based Iron Mountain Inc. that include up to $2.2 million in a nonrecurring engineering agreement and Iron Mountain’s $3 million investment in Crossroads. In addition, the two companies say they have agreed to explore the development of specific solutions using Crossroad’s StrongBox technology.
StrongBox is an enterprise-level archive solution that uses linear tape file system (LTFS) technology, featuring the scalability and economy of tape with the speed and accessibility of disk, according to the companies. It is designed to be a file-based and fully portable storage solution for long-term data retention.
Richard Reese, chairman and CEO of Iron Mountain, says, “Iron Mountain sees significant potential in partnering with Crossroads. We believe that the StrongBox archive will help bring down the costs of long-term data archiving for our customers and that combining Strongbox’s efficient use of tape technology with our industry leading off-site tape vaulting services will deliver tremendous value. Our investment in StrongBox and the related partnership reflects our commitment to bringing the most reliable and cost effective data storage solutions to our customers and fits our strategy to provide technology enabled products to market by partnering with the best technology providers.”
Rob Sims, president and CEO of Crossroads Systems, says, “This agreement underscores the disruptive nature of StrongBox technology that allows organizations to archive their data at a fraction of the price they were previously paying. Working with industry leaders such as Iron Mountain, Crossroads continues to greatly expand the reach of StrongBox technology. Iron Mountain’s investment in the NRE agreement illustrates the confidence in StrongBox’s first-of-its-kind stance within the storage industry.”