Storage management software firm FalconStor has completed a reverse merger with vendor Network Peripherals, and signed its biggest reseller agreement in the UK so far.
The company, which hopes to open a UK office by the end of September, has been left with $65m (£45m) in cash after completing the move.
"It was a case of a dying product in a firm with lots of money, and a firm with not so much money and a new product," said Gerry Briggs, general manager of European operations at FalconStor.
He added that FalsonStor will remain "dedicated to its indirect strategy."
The company has also signed a reseller agreement with ICL, a subsidiary of the Fujitsu Group.
ICL will supply its SoftStor system with FalconStor's IPStor software, creating a virtualised storage management system, which ICL will then resell.
Jack Fenton, storage solutions sales manager at ICL, said: "The partnership will include fail-over, mirroring and serverless back-up. With ICL's system design and service delivery capability, it will allow efficient storage utilisation."
Briggs said FalconStor is hoping to gain about 15 resellers in Europe by its third quarter, and 20 by Q4. "We want quality, not quantity," he said.
The company will release version 2.0 of its IPStor software on 5 September.
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