Sphere 3D acquires Overland Storage

Toronto-based Sphere 3D Corporation (Sphere 3D) successfully completed its acquisition of Overland Storage, Inc. (Overland Storage) by way of merger pursuant to which shareholders of Overland Storage received common shares of Sphere 3D.

The merger consideration was valued at approximately US$81.13 million at the date of announcement.

Sphere 3D Corporation is a NASDAQ-listed virtualization technology solution provider. The company has a portfolio of products that address the complete data continuum from active data to data at rest.

Overland Storage, based in San Jose, California, is a trusted global provider of unified data management and data protection solutions across the data lifecycle.

Sphere 3D was represented by Dorsey & Whitney LLP with a team that included Richard Raymer, James Guttman and Daniel Nauth (M&A) and John Hollinrake, Kim Severson and John Kelly (tax), and by Canadian counsel consisting of Jason Meretsky of Meretsky Law Firm and Caroline Wang of Wang Legal.

Overland Storage was represented by O’Melveny & Myers LLP with a team that included Steven Tonsfeldt, Paul Sieben and Tom Albright (M&A) and Robert Fisher (tax), Jennifer Taylor, Warren Fox, Herman Cheung and Taylor Evenson; and by Stikeman Elliott LLP with a team that included Michel Gélinas, Benoît Dubord and David Tardif (M&A), Frank Mathieu and Éric Lévesque (tax), Jeff Brown (competition) and Nancy Ramalho (employment and benefits).


Benoît C. Dubord Frank Mathieu D. Jeffrey Brown