Crossroads and NexQL Announce Technology Development Agreement.Business Editors/High-Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--Dec. 17, 2003 Crossroads Systems Inc. (Nasdaq:CRDS CRDS Contribution pour Le Remboursement de la Dette Sociale (French: Social Debt Repayment Contribution) CRDS Cavity Ring-Down Spectroscopy CRDS Community Rehabilitation and Disability Studies ), a leading global provider for storage networking solutions, today announced it has entered into a technology development agreement with NexQL Corporation for the joint development of advanced data management solutions. During the term of this and other strategic agreements, Crossroads will provide funding up to $2.5 million to NexQL. "Our development agreement with NexQL will position Crossroads to attain market share in emerging technology solutions," said Rob Sims Rob Sims (b. December 6, 1983) is an American football offensive guard, who currently plays for the National Football League's Seattle Seahawks. He was drafted in round four, pick 128 of the 2006 NFL Draft. , president & chief executive officer, Crossroads Systems. "Crossroads is investing in a complementary technology that will leverage Crossroads' core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Crossroads' current family of products includes storage routers See data mover. and ServerAttach appliances designed to improve connectivity, consolidation, and continuity of customer business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets through better utilization of existing IT server and storage assets. "NexQL will be working closely with Crossroads in the development of leading-edge data management technologies for real-time queries of database systems," said Elliott Brackett, president & chief executive officer, NexQL. NexQL, a privately held development stage company, is developing data management solutions built on patented technologies addressing the needs of real-time, complex, high-volume analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. processing. The result will be real-time access to data with an improvement of several orders of magnitude in performance over traditional approaches. This technology will provide real-time access across all databases using a scalable, non-invasive system that also preserves existing systems and business processes. About Crossroads Systems Inc. With headquarters in Austin, Texas, Crossroads Systems (Nasdaq:CRDS) is a leading global provider of data routing solutions for Storage Area Networks (SANs). Crossroads' solutions serve the growing storage connectivity and data storage markets, and are designed to help companies store, manage and ensure the integrity and availability of their data. Crossroads' products are in solutions from companies such as EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. , HP and StorageTek, and are distributed through partners such as ARROW, Bell Micro, DLT (Digital Linear Tape) A magnetic tape technology originally developed by Digital for its VAX line. The technology was later sold to Quantum, which makes it available to other manufacturers. DLT uses half-inch, single-hub cartridges similar to IBM's 3480/3490/3590 line. Solutions, Info-X, Promark, and TidalWire. Crossroads is a voting member of the Storage Networking Industry Association An association of producers and consumers of storage networking products, whose goal is to further storage networking technology and applications. The Storage Networking Industry Association, or SNIA (SNIA (Storage Networking Industry Association, San Francisco, CA, www.snia.org) An organization devoted to the advancement of mission critical storage systems. Founded in 1997, its goal is to determine the standards that must be developed to allow hosts and storage systems to interact via ). For more information about Crossroads Systems, please visit www.crossroads.com or call 800-643-7148. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "could," "expect," "intend," "plan," "project," "will" and similar phrases as they relate to Crossroads are intended to identify such forward-looking statements. These statements reflect the current views and assumptions of Crossroads, and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: the failure by Crossroads to realize the anticipated benefits of its agreement with NexQL; the risk that our development agreement with NexQL may, for technical or other reasons, not lead to development of products that achieve market acceptance; the difficult economic environment, including, in particular, ongoing efforts by organizations to control their IT spending and budget; the dependence of Crossroads' business on the storage area network market which is evolving and unpredictable; and Crossroads' ability to successfully achieve the benefits of any subsequent acquisition or strategic relationship and other factors detailed in Crossroads' filings with the Securities and Exchange Commission. Crossroads expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any changes in expectations, or any change in events or circumstances on which those statements are based, unless otherwise required by law. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion