IRVINE, Calif., July 9, 2024 /PRNewswire/ -- Qualstar Corporation (OTC Markets: QBAK), a leading manufacturer of data storage solutions and high-efficiency power supplies, today announced its corporate update including its intentions to pursue acquisitions of companies in the data management software and hardware systems spaces.

The Qualstar (OTC: QBAK) Advantage

• Well established and known brand in the data storage industry.

• Highly scalable automated magnetic tape libraries used to store, retrieve, and manage electronic data primarily in a network computing environment.

• Data storage solutions that scale with the demands of businesses.

• Growing global customer base throughout North America, South America, Europe, and Asia.

• Strong financials with no debt and a track record of profitability.

• N2Power subsidiary designs and manufactures ultrasmall, high-efficiency open-frame power supplies.

Our Market

The data storage market is projected to grow from $57 billion in 2022 to $150 billion in 2032.¹ Qualstar Corporation (OTC: QBAK) is focused on being a global leader throughout the industry, addressing the growing demands of the datasphere which is expected to increase from 33 zettabytes to 175 zettabytes by 2025².

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

Company History and Future

Founded in 1984 in Southern California, Qualstar has established a reputation for excellent service and high-quality reliable products, offering a full range of tape libraries in various sizes and configurations being used by customers in a wide range of industries, including media & entertainment, oil & gas, government & military, education, IT, medical imaging, banking, surveillance, and data storage centers.

Leveraging off 40 years of continued success in the hardware space, Qualstar is pursuing expansion opportunities in the data management software and hardware spaces through acquisitions and partnerships. With thousands of active machines being used throughout the data storage industry, Qualstar intends to expand its products and service offerings by providing software solutions in addition to tape libraries supported by IBM LTO drives, reaching new customers, expanding the business, and increasing profit margin.