SIMI VALLEY, Calif.--(BUSINESS WIRE)--
Qualstar Corporation (NASDAQ: QBAK), a leading manufacturer of data storage solutions and high efficiency power supplies, today announced it has entered into a Technology Development Agreement with Sony Imaging Products & Solutions Inc. Pursuant to the agreement, Qualstar will design and develop the specifications and architecture for an enterprise class optical disc archive library. The agreement, which can be terminated by Sony at any time, provides that Qualstar will receive installment payments for its services, which are expected to be completed by March 31, 2018. Following completion of the services, the parties may enter additional agreements relating to the production of the enterprise class optical disc archive library.
About Qualstar Corporation
Qualstar, founded in
1984, is a diversified electronics manufacturer specializing in data
storage and power supplies. Qualstar is a leading provider of
high efficiency and high density power supplies marketed under the
N2Power™ brand, and of data storage systems marketed under the Qualstar™
brand. Our N2Power power supply products provide compact and efficient
power conversion for a wide variety of industries and applications
including, but not limited to telecom, networking, broadcast,
industrial, lighting, gaming and test equipment. Our Qualstar data
storage products are used to provide highly scalable and reliable
solutions to store and retrieve very large quantities of electronic
data. Qualstar’s products are known throughout the world for high
quality and Simply Reliable™ designs that provide years of trouble-free
service. More information is available at www.qualstar.com
or www.n2power.com
or by phone at 805-583-7744. Connect with Qualstar on LinkedIn or
Twitter.
Cautionary Statement Concerning Forward-Looking Statements
Statements
used in this press release that relate to future plans, events,
financial results, prospects or performance are forward-looking
statements as defined under the Private Securities Litigation Reform Act
of 1995 and include statements about the design and development of the
specifications and architecture for an enterprise class optical disc
archive as well as Qualstar’s expected receipt of installment payments
for its services. All statements, other than statements of historical
fact, are statements that could be deemed forward-looking statements.
These forward-looking statements are based upon the current expectations
and beliefs of Qualstar's management and are subject to certain risks
and uncertainties that could cause actual results to differ materially
from those expressed or implied by such forward-looking statements. For
further information on these risks and uncertainties, please refer to
the risk factors discussed in Qualstar’s filings with the U.S.
Securities and Exchange Commission including, but not limited to,
Qualstar’s Annual Report on Form 10-K for the fiscal year ended December
31, 2016, the “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” section of such Form 10-K, and any
subsequently filed reports. All of Qualstar’s filings are available
without charge through the SEC’s website (www.sec.gov)
or from Qualstar’s website (www.qualstar.com).The
information contained in this press release is as of the date of this
press release. Notwithstanding changes that may occur with respect to
matters relating to any forward looking statements, Qualstar does not
expect to, and disclaims any obligation to, publicly update any
forward-looking statements whether as a result of new information,
future events or otherwise. Qualstar, however, reserves the right to
update such statements or any portion thereof at any time for any reason.
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