Storewiz and Tokyo Electron Device Announce Strategic Partnership in Japan, 10/04/2006, Forbes
GAITHERSBURG, Md., October 4, 2006 – Storewiz, Inc., a provider of online data compression solutions, and Tokyo Electron Device today announced a strategic partnership to bring Storewiz solutions to the Japanese market. Harel-Hertz Investment House assisted Storewiz in penetrating the Japanese market by spearheading the partnership.
Storewiz has developed a unique, patent-pending data compression technology that dramatically boosts storage capacity while significantly reducing the cost of storage hardware and management. An industry first, the Storewiz solution is based on a plug-and-play appliance that is agnostic to any storage system and boasts real time transparent compression with no performance impact.
Storewiz appliances deliver two to five times CAPEX reduction across the entire data storage infrastructure with substantial IT OPEX gains and reduced I/O service time – resulting in significant performance enhancement.
Since the first shipment of its flagship STN-5000 product in October 2005, Storewiz solutions have been successfully implemented in more than 100 sites worldwide, including a range of blue-chip customers.
Storewiz products support NAS and iSCSI environments, with Fibre Channel support available toward the end of 2006.
Key benefits realized by installed Storewiz data compression technology users include:
• Postponing of costly storage hardware additions/upgrades • Short time to market allowed for new applications • Reduction of backup/restore window • Decrease of Network traffic for remote backup operations • Reduction of the number of storage units to be managed and IT resources used
The win-win partnership of Storewiz and TED will include a reseller framework agreement with key VARs and the distribution of the Storewiz product line by TED to its 2nd tier channels. TED expands its product offerings for its channel partners with next-generation data compression solutions from Storewiz, and Storewiz gains a wider market through TED throughout Japan.
While the business engagement of Storewiz and TED at the outset is valued at a few million dollars for 2006, the companies are forecasting significant business growth in 2007 with additional OEM and IT vendor opportunities under the partnership.
Nir Kunik, Executive Vice President of Worldwide Sales for Storewiz praised the relationship by saying, “We are honored to enter a partnership with TED, a company well-recognized in Japan for the best storage solutions and support. By adding the Storewiz solutions to the offerings of our new partner in Japan, we will quickly see validation of the incredible business potential of our innovative technology. We also want to note the significant contribution of Harel Hertz Investment House, who was an integral part of the process.”
Mr. Amano, Corporate VP & General Manager of Tokyo Electron Device CN Business Section, added, “We expect to see impressive sales from our new Storewiz product offering as along with our unique value to both channel partners and customers increasing concurrently.
Eran Harel, Managing Director at Harel Hertz Investment House said, “We identified Tokyo Electron Device as a leading distributor of storage equipment in Japan and the ideal partner for Storewiz. Together with Storewiz, we have created a consortium of OEM, VARs and distributors, which will enable Storewiz to have access to over 50% of the market.”
About Tokyo Electron Device (TED) Tokyo Electron Device is an affiliate of Tokyo Electron Limited, a leading supplier of innovative semiconductor and FPD production equipment worldwide. TED CN Business Section handles a wide range of computer system and network-related products supporting IT infrastructure to provide businesses with solutions and support services for the broadband era. TED CN Business Section has marketing organizations in the US and Japan, which respond to the latest technological trends and needs. For more information, visit http://cn.teldevice.co.jp .
About Storewiz Storewiz, Inc. is a leading provider of solutions that dramatically boost storage space on network storage environments. Storewiz data compression appliances are installed between the organization’s storage arrays and their network. Uniquely agnostic to the storage array brand it is connected to, the Storewiz appliance typically provides organizations with 2-5X additional capacity with associated savings in capital, operational, maintenance and management resources. Privately held and headquartered in Gaithersburg, Maryland, Storewiz is a member of the Storage Networking Industry Association (SNIA) and has gained an ISO 9001:2000 certification. For more information, visit www.storewiz.com.
About Harel-Hertz Harel-Hertz Investment House Ltd. (HIH), www.harel-hertz.com, with offices in Herzeliya and Tokyo, is a business development consulting company and investment boutique specializing in setting up and promoting business activity between Japan and Israel. HIH assists Japanese and non-Japanese parties in establishing and expanding market presence in Japan and Israel and also assists in raising funds in Japan. Elchanan Harel, President of HIH recently received the honourable decoration, 'The Order of The Rising Sun, Gold Rays with Neck Ribbon' by the Japanese Government.
