Overland’s Board Evaluates Merger With Tandberg

Overland Storage, Inc. has received a proposal from Cyrus Capital Partners L.P., the owner of Tandberg Data (Holdings) Sarl, for a potential business combination between Overland and Tandberg.

Consistent with its fiduciary and legal duties, Overland’s board of directors will evaluate this proposal and other strategic alternatives.

Overland has retained Roth Capital Partners, LLC as its financial advisor to assist it with this process.

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