After increasing revenue, troubled data technology company Overland Storage Inc. (Nasdaq: OVRL) has found a buyer.

Sphere 3D Corp. is buying the company for $81 million, and has agreed to loan Overland $5 million in the form of a note. After the deal closes, Overland will be a wholly-owned subsidiary of Sphere.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.