May 29, 2013 – Data management and protection vendor Overland Storage is mulling a buyout that would involve a merger with tape storage specialist Tandberg Data.

Cyrus Capital Partners, the owner of Tandberg Data Holdings and its storage division after a restructuring to take that company private in 2009, has made a proposal to buy Overland for the “potential business combination.” Financial details were not released in the deal, which Overland confirmed late Tuesday. Overland has retained Roth Capital Partners to evaluate the proposal.

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