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Overland Grabs New Partner

One day after staving off a hostile takeover attempt by a rival, Overland Storage says it has a new tape OEM partner.

Industry sources say the new partner is Dell, and the deal could come at the expense of Overland suitor ADIC.

In a prepared statement today, Overland CEO Chris Calisi said his company has a three-year OEM deal for its new tape library. Calisi gave no details on the library, but during Overlands last earnings conference call in October, he talked about a low-cost tape appliance Overland expected to launch in the first quarter of 2006.

A Dell spokeswoman declined to comment on whether or not Dell is Overland’s new partner. But industry analysts say Dell has been looking for a low-cost tape library and is the most likely candidate.

“We believe Dell is the new OEM and the product is targeted at price sensitive applications,” RBC Capital Markets analyst Tom Curlin wrote today in a note to clients.

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