FalconStor Enters Into Joint Venture With Chinese Academy Of Science

New Company Will Develop, Produce, and Market Enterprise-Class Storage, Archiving, and Compliance Solutions Domestically and Internationally

MELVILLE, N.Y.--()--FalconStor Software, Inc. (NASDAQ: FALC), the market leader in disk-based data protection solutions, today announced that it has continued its expansion and investment in the Peoples Republic of China by entering into a joint venture agreement with the Institute of Computing Technology of the Chinese Academy of Science (CAS) and others to establish a company that will research, produce, and market enterprise-class Storage, Archiving and Compliance solutions domestically and internationally. Other investors in the company, to be known as Tianjin Zhongke Blue Whale Information Technologies Co., Ltd. (Blue Whale), include the Tianjin Hi-Tech Industry Park Hi-Tech Investment Management Co., Ltd. Blue Whale will be located in the Tianjin Hi-Tech Industry Park.

We are looking forward to leveraging the award-winning FalconStor® IPStor® storage infrastructure software to augment Blue Whales SAN-based clustered file system with enterprise class snapshot, replication, and de-duplication services, said Lu Xu, President of Tianjin Zhongke Blue Whale Information Technologies. Besides technical collaboration, we expect to deliver our SAN solutions via FalconStors worldwide reseller network and support infrastructure.

We are excited to enter into this joint venture with key strategic partners - the Institute of Computing Technology of the Chinese Academy of Science and the Tianjin Hi-Tech Industry Park, said ReiJane Huai, Chairman and Chief Executive Officer, FalconStor Software. We view China as a key growth area. The solution, to be jointly developed and to be sold by Blue Whale and FalconStor, will further our penetration in both the Chinese and the global markets.

About FalconStor Software, Inc.

FalconStor Software, Inc. (NASDAQ: FALC) is the market leader in disk-based data protection. We deliver proven, comprehensive data protection solutions that facilitate the continuous availability of business-critical data with speed, integrity, and simplicity. Our technology-independent solutions, built upon the award-winning IPStor® virtualization platform, include the industry-leading Virtual Tape Library (VTL) with Single Instance Repository (SIR) for de-duplication, Continuous Data Protection (CDP), Storage Virtualization, and Replication for disaster recovery and remote office protection. Our products are available from major OEMs and solution providers including EMC, SUN, Brocade, H3C, and COPAN and are deployed by thousands of customers worldwide, from small businesses to Fortune 1000 enterprises.

FalconStor is headquartered in Melville, N.Y., with offices throughout Europe and the Asia Pacific regions including Paris, Tokyo and Taiwan. For more information, visit www.falconstor.com.

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: delays in product development; market acceptance of FalconStor´s products and services; technological change in the storage and networking industries; competition in the network storage software market; the potential failure of FalconStor´s OEM partners to introduce or to market products incorporating FalconStor´s products; 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.

FalconStor, FalconStor Software, and IPStor are registered trademarks of FalconStor Software, Inc., in the United States and other countries. All other trademarks are the properties of their respective owners.

Contacts

FalconStor Software, Inc.
Anne Strauss, 631-773-4303
anne.straus@falconstor.com

Contacts

FalconStor Software, Inc.
Anne Strauss, 631-773-4303
anne.straus@falconstor.com