Qualstar Corporation Announces Corporate Update, Including Intentions to Continue Acquisitions of Data Management Software and Hardware Systems Companies

IRVINE, California., July 9, 2024 /PRNewswire/ — Qualstar Corporation (OTC: QBAK), a leading manufacturer of high-performance data storage and power supply solutions, today announced an update to its corporate structure that includes plans to acquire companies in the data management software and hardware systems industries.

Qualstar Advantage (OTC: QBAK)

• A well-known and respected brand in the data storage industry.
• Highly scalable, automated magnetic tape libraries for storing, retrieving, and managing electronic data, primarily in a network environment.
• Data storage solutions that adapt to the needs of enterprises.
• Growing global customer base worldwide North America, South America, EuropeAND Asia.
• Strong financial situation, no debt and documented profitability.
• The N2Power subsidiary designs and manufactures ultra-small, high-efficiency open-frame power supplies.

Our market

The storage market is expected to grow by 57 billion dollars in 2022 to 150 billion dollars in the year 2032.¹ Qualstar Corporation (OTC: QBAK) is focused on being a global leader across the industry, responding to the growing demands of a data world that is expected to grow from 33 zettabytes to 175 zettabytes by 2025².

Data stored in tape libraries is reliably stored, managed, and accessible, making it an ideal solution for the growing demands of the storage industry. Tape storage maintains data integrity for up to 30 years and can be isolated, making it more secure against cyberattacks and ransomware. Compared to hard drives, optical storage devices, and other storage alternatives, tape is still the most cost-effective storage solution in terms of TCO (total cost of ownership).

The history and future of the company

Founded in 1984 in Southern CaliforniaQualstar has built a reputation for excellence in service and high-quality, reliable products, offering a full range of tape libraries in a variety of sizes and configurations to customers in a wide range of industries, including media and entertainment, oil and gas, government and military, education, IT, medical imaging, banking, surveillance, and data centers.

Building on 40 years of uninterrupted success in the hardware space, Qualstar is looking to expand into data management software and hardware through acquisitions and partnerships. With thousands of active machines in use across the storage industry, Qualstar aims to expand its product and service offerings by providing software solutions in addition to IBM LTO tape libraries, reaching new customers, growing business and increasing profit margins.

Safe Harbor / Forward-Looking Statements
This investment summary contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, Qualstar’s views regarding future financial and operating results and growth in the markets served by Qualstar’s products and future product initiatives, and are generally identified by phrases such as “thinks,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans” and similar words. Forward-looking statements are not guarantees of future results and are inherently subject to uncertainties and other factors that could cause actual results to differ materially from forward-looking statements. These statements are based on, among other things, assumptions made by management and information currently available to management, including its own knowledge and assessment of Qualstar’s industry, research and development initiatives, competition and capital requirements. Other factors and uncertainties that could affect Qualstar’s forecasts include, but are not limited to: our ability to develop and commercialize new products; industry and customer acceptance and acceptance of our new products; our ability to increase sales of our products; rescheduling or cancellation of customer orders; unexpected shortages of key components; unexpected product design or quality issues; adverse changes in market demand for our products; increased competition and pricing pressures on our products; declines in the quality and/or reliability of our products; protection of our intellectual property; competition from alternative, advanced and generic products; the continued availability of raw materials for our products at competitive prices; disruptions in our manufacturing facilities; international sales and operations risks, including currency fluctuations; compliance with regulatory requirements applicable to our manufacturing operations; and customer concentration. Qualstar undertakes no obligation to publicly update or revise any forecasts, whether as a result of new information, future events or otherwise.

Contact info:

Steven N. Bronson
General Director
Qualstar Corporation
805-617-4419
[email protected]

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SOURCE Qualstar Corporation