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Sphere 3D Completes Acquisitions of HVE and Unified ConneXions

Sphere 3D Corp., a containerization, virtualization, and data management solutions provider, today announced that it has successfully completed its acquisitions of HVE ConneXions, LLC, and Unified ConneXions, Inc. (collectively, "UCX") pursuant to the definitive agreement announced on January 19, 2017. 

"We are excited to welcome the UCX  team to the Sphere 3D family, and look forward to building and executing on our shared vision to deliver integrated data center solutions that address customers rapidly growing and complex mobile, network, virtualization, and storage requirements," said Eric Kelly, chairman and CEO of Sphere 3D. "The completion of this acquisition marks an important step for Sphere 3D in its plan to achieve growth and profitability." 

UCX provides hybrid cloud technology through a focus on converged and hyperconverged infrastructure, along with expert, professional IT services to corporate, government, and educational institutions. UCX is based in the metropolitan area of Dallas, Texas, and maintains three facilities including a 20,000 square foot integration center in Plano, Texas, a corporate headquarters in Dallas, which includes a network operation center ("NOC") and a data center, and a sales / services office located in Waxahachie, TX.  The UCX engineers support customers' IT initiatives by providing strategic, architectural, operational, and implementation planning related to the customers' entire IT and network infrastructure.  In addition to each next generation appliance that the UCX team engineers and deploys, they also provide proactive 24x7x365 monitoring services for those appliances under maintenance service contracts.  The UCX services team has the ability to work with customers either onsite or remotely, and is certified in a wide range of technologies that include Microsoft, VMware, Citrix, NVIDIA, and various networking technologies. Its highly trained and skilled virtualization engineers have a broad range of experience and technical expertise, which has allowed UCX to differentiate itself by offering both exceptional solutions and services to partners and customers.

The acquisition immediately strengthens the company's virtualization offerings with the addition of senior management from UCX, world-class products, technologies, professional services and engineering talent.  In connection with the hiring of UCX's employees, who include the three key executives, Joseph O'Daniel, Chris Cunningham and David Harmon, the Company will grant up to 5,161,030 inducement RSUs to such employees, which will vest over the next three years. 

Additional financial details were not disclosed.

Published Monday, January 30, 2017 8:27 AM by David Marshall
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