FalconStor Appoints Doug Balog, IT Infrastructure Veteran and Former IBM Executive, as Strategic Executive Advisor

Rhea-AI Summary

FalconStor Software (OTC-PINK: FALC) has appointed former IBM executive Doug Balog to its advisory board. With over 35 years at IBM, Balog brings strategic guidance to FalconStor as it expands its hybrid cloud data protection services and partnerships with managed service providers (MSPs). His experience with enterprise IT solutions will enhance FalconStor's offerings, particularly for IBM i customers. The company continues to innovate in cloud-enabled backup solutions, multitenant management, and subscription pricing, aiming to strengthen its position in the data protection market.

Positive

• Addition of Doug Balog to advisory board adds substantial industry expertise.
• Strengthened commitment to hybrid cloud data protection and MSP partnerships.
• Advancements in core replication technology support private cloud deployments.
• Introduction of subscription pricing model enhances MSP profitability.

Negative

• None.

New executive appointment to provide industry expertise and guidance as FalconStor expands its presence and partnerships in the hybrid cloud data protection market

AUSTIN, Texas--(BUSINESS WIRE)-- FalconStor Software, Inc. (OTCQB: FALC), the trusted data protection software leader modernizing disaster recovery and backup operations for the hybrid cloud world, today announced that former IBM executive Doug Balog has joined its advisory board. In this capacity, Balog will provide strategic guidance as the company expands its commitment to the hybrid cloud community and its focus on managed service provider (MSP) partnerships.

Balog spent more than 35 years at IBM as a senior executive running IBM’s units responsible for the innovation, sales and growth of their storage, server and mainframe businesses. In these roles, he worked with some of IBM’s largest customers and channel partners, including MSPs, to architect and deploy enterprise IT infrastructure solutions increasingly designed for the hybrid cloud.

“I am pleased to join forces with FalconStor, a data protection leader steeped in deep technical expertise across the data management challenges that I saw within the customer IT and MSP community,” said Doug Balog. “I am impressed by the progress the team has made in bringing this expertise to the hybrid cloud data protection market and by the commitment it is making to the MSP community to help make customers and partners successful technically and financially. Particularly, IBM i customers and MSPs would seem to benefit materially from FalconStor’s deep technology integration with the IBM i platform for deduplication, backup, replication and data migration to the cloud.”

“We announced our initial capabilities for cloud-enabled backup-as-a-service in 2020 and our commitment to the managed service provider community in 2021,” said Todd Brooks, CEO of FalconStor. “The entire team rallied around those fundamental strategic changes, driving a new solution focus, cloud integration, fundamental pricing changes and a new MSP market development program. With Doug’s addition to the team, we are now ready in 2022 to take our efforts to the next level in hybrid cloud data protection with our growing network of MSPs,” said Todd Brooks, FalconStor CEO.

Some of the company’s technological advances and recent business decisions that continue to be a strong selling point for both MSPs and enterprises are:

• Cloud Enabled: FalconStor’s core replication technology, long-used to replicate from one enterprise data center to another for active protection, now supports replication to private cloud deployments, often managed by MSPs and the leading public cloud providers.
• Multitenant Management: FalconStor’s StorSight user experience is built for multitenancy, a fundamental ingredient in addressing Backup-as-a-Service requirements for MSPs managing hundreds of customers, enabling backup automation, billing and chargeback.
• Security: FalconStor’s core encryption capabilities for data in-flight and at-rest allow MSPs to keep tight control over their customers’ data in the face of ransomware attacks and make cloud a safe option for long-term data retention.
• Subscription Pricing: FalconStor unveiled new monthly subscription pricing based on the number of customer tenants an MSP serves, rather than time-honored data capacity pricing. With FalconStor’s leading data reduction technologies, MSPs can drive highly profitable and valuable hybrid cloud data protection service lines.

Balog currently serves as board member, advisor and investor to several technology companies in hybrid cloud, data protection, cybersecurity and artificial intelligence/machine learning.

About FalconStor

FalconStor is the trusted data protection software leader modernizing disaster recovery and backup operations for the hybrid cloud world. The company enables enterprise customers and managed service providers to secure, migrate, and protect their data while reducing data storage and long-term retention costs by up to 95 percent. More than 1,000 organizations and managed service providers worldwide standardize on FalconStor as the foundation for their cloud first data protection future. The company’s products are offered through and supported by a worldwide network of leading managed service providers (“MSPs”), systems integrators, resellers, and original equipment manufacturers (“OEMs”). To learn more, visit www.falconstor.com and stay connected with us on YouTube, Twitter, and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220111005599/en/

Georgiana Comsa

Silicon Valley Public Relations

georgiana@siliconvalleypr.com

Source: FalconStor Software, Inc.

FAQ

Who is Doug Balog and what is his role at FalconStor?

Doug Balog is a former IBM executive with over 35 years of experience, now serving on FalconStor's advisory board to provide strategic guidance.

How does Doug Balog's appointment affect FalconStor?

His appointment is expected to strengthen FalconStor's expertise in hybrid cloud data protection and enhance its partnerships with managed service providers.

What services does FalconStor offer related to hybrid cloud?

FalconStor offers cloud-enabled backup solutions, multitenant management, and subscription pricing tailored to managed service providers.

What is FalconStor's stock symbol?

FalconStor trades under the stock symbol OTC-PINK: FALC.