Exhibit 99.1
Contacts: Herman Chin Christine Rogers
Public Relations Investor Relations
631-962-1163 631-962-1160
herman.chin@falconstor.com christine.rogers@falconstor.com
FalconStor Software Acquires IP Metrics
NIC Express Technology Enhances IPStor With High Performance
And High Availability IP Services
MELVILLE, N.Y., July 16, 2002--FalconStor Software, Inc. (Nasdaq: FALC), a
leading provider of network storage infrastructure software, today announced it
has acquired IP Metrics Software, Inc., a Euless, TX-based provider of high
availability software and services for mission-critical networks. Financial
terms were not disclosed.
FalconStor will leverage IPMetrics' technology to offer highly available network
storage and highly available IP connectivity to mission critical servers
throughout the enterprise. IP Metrics' flagship solution, NIC Express, creates
redundant data paths between all network server and workstation endpoints,
ensuring non-stop data flow across the enterprise. The most significant feature
is its ability to peer deep into the network to identify network trouble spots
and to intelligently re-route traffic.
"The addition of IP Metrics' technology extends our leadership position as a
complete network storage solutions provider," said FalconStor Chairman and CEO,
ReiJane Huai. "IP Metrics' solution suite complements our product strategy and
will enable corporations to achieve even greater levels of performance and
reliability over IP. This union of technology gives customers freedom of choice
to construct mission-critical network storage infrastructure using any third
party storage device and networking equipment with the highest degree of
business continuity and availability."
The combination of IP Metrics and FalconStor creates an unprecedented force in
storage networking solutions. The acquisition adds a roster of blue-chip
customers and top brand name clients, including Bear Stearns, British Airways,
Morgan Stanley and Raytheon, to FalconStor's customer base.
"We're excited to bring our talents to FalconStor, a company highly regarded for
its innovation in storage networking software," said David Wilbanks, CEO of IP
Metrics Software. "We look forward to extending NIC Express' reach to more
customers through FalconStor's global channel partners, and to leveraging
FalconStor's development technical resources in executing our vision for
end-to-end network availability."
IP Metrics' Euless location will become FalconStor's office in Texas. Wilbanks
will continue with FalconStor as vice president of business development, and
will focus on enhancing the business opportunities for highly available network
storage and IP connectivity for mission-critical enterprises.
About IPStor
IPStor, a storage networking software infrastructure, enables corporate IT to
contain storage management costs and increase storage efficiency by aggregating
and provisioning storage resources and services over the network with high
performance, security, scalability and availability. The IPStor server runs on
off-the-shelf hardware under Linux or Solaris. It supports industry standard
protocols such as SCSI, IP, iSCSI, Fibre Channel and SNMP to facilitate rapid
deployment and seamless integration with the existing storage equipment and
third party management software throughout the enterprise. As the result of its
hardware-agnostic architecture, vendor-independent storage services and
industrial performance, IPStor has been embraced by major system, storage and
appliance vendors and system integrators throughout the world.
About NIC Express
NIC Express is the missing link in network availability. The software installs
on any Windows NT/2000 or Linux system and works by load balancing network
traffic across an array of two or more network connections. This process boosts
bandwidth by a factor equal to the number of adapters in a server.
In addition, NIC Express is the first trunking software to push fault tolerance
beyond the server and across the enterprise. NIC Express peers deep into the
network to identify both physical and logical faults. The software intelligently
re-routes traffic based on where and what type of fault is detected, increasing
end-to-end network availability.
About IP Metrics Software, Inc.
Founded in 1997, IP Metrics Software provides intelligent trunking software and
high availability consulting services for mission-critical networks. IP Metrics'
flagship product, NIC Express, provides end-to-end network availability for
numerous financial institutions, multi-nationals, and government and military
agencies. Representative clients include Merrill Lynch, Wells Fargo Bank, Morgan
Stanley, Dallas Morning News, Dow Chemical, the US Navy and the US Social
Security Administration. IP Metrics is located in the heart of the Dallas/Fort
Worth Metroplex and can be reached at 416 North Main Street, Suite 231, Euless,
Texas, 76039, by phone at 817.358.1007, by fax at 817.358.1026 or on the Web at
http://www.ipmetrics.com.
About FalconStor
FalconStor Software, Inc. (Nasdaq: FALC), offers network storage infrastructure
software that dramatically reduces storage operating costs by aggregating and
provisioning storage capacity and management services over Fibre Channel and
IP-based storage networks. With unprecedented reliability, performance,
manageability, and availability, FalconStor's flagship product, IPStor(TM),
enables leading IT organizations and Service Providers to deploy a highly
available network storage infrastructure to ensure business continuity.
Founded in 2000, FalconStor is headquartered in Melville, NY. International
offices include Paris, Tokyo and Taichung, Taiwan. FalconStor is a voting member
of the Storage Networking Industry Association (SNIA) and Fibre Channel Industry
Association (FCIA). For more information, visit www.falconstor.com or call
1-631-777-5188.
This press release includes forward-looking statements that involve risk and
uncertainties that could cause actual results to differ materially from the
forward-looking statements. These risks and uncertainties include: the early
stage of FalconStor's business; delays in product development; market acceptance
of FalconStor's products and services; technological change in the storage and
networking industries; competition in the storage networking software market;
the ability to achieve profitability; intellectual property issues; and other
risk factors discussed in FalconStor's reports on Forms 10-K, 10-Q and other
reports filed with the Securities and Exchange Commission.
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FalconStor and IPStor are trademarks of FalconStor Software, Inc. All other
company and product names contained herein are trademarks of the respective
holders.
