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ManagedStorage International, Inc.

MSI Retains Innovation Advisors for Acquisition Activity

BROOMFIELD, CO (ots)

ManagedStorage International, Inc. (MSI)
announced today that they have retained the investment-banking firm
of Innovation Advisors (IA) to assist and advise the company on
strategic acquisitions. MSI is interested in pursuing additional
transactions in the storage outsourcing market after its $22 million
infusion of capital by Tudor Ventures, Great Hill Partners, and J.P.
Morgan Fleming Asset Management. Furthermore, the company recently
completed an acquisition of the DataVault storage services business
of Sanrise, Inc.
MSI provides data protection services to hundreds of customers
throughout the US, UK, France, and Japan, and is continuing to grow
the number of businesses they serve, as well as expand their service
capabilities. Today, MSI provides a wide array of outsourced
solutions that protect mission-critical data for large and small
companies. Services include the monitoring and management of primary
disk, enterprise tape, NAS and SAN environments, as well as backup
and restore services.
"MSI is interested in acquiring companies or assets related to the
outsourcing of storage services in the US as well as Europe. More
specifically, we will continue to search for Storage Service
Providers that, when acquired, will leverage the efficiencies of the
combined businesses along with MSI's strong balance sheet," said
Thomas P. Sweeney, III, president, CEO, and chairman of the board for
ManagedStorage.
MSI will expand its target to include divisions of larger hosting
and managed service providers that require storage services as part
of their complete service line and can benefit from the lower cost of
operation and higher service levels available through MSI. These
transactions could include the purchase of the underlying storage
assets and the creation of turnkey outsourcing contracts, enabling
the service providers to focus on running their business, and
eliminating capital requirements for storage assets moving forward.
"We are well-positioned to continue our growth both organically
and through strategic alternatives. Selecting Innovation Advisors was
a natural choice due to their knowledge of our business, their
successful completion of a large equity round for the company, and
their significant experience in all types of M&A work," Sweeney
continued.
Innovation Advisors previously assisted the company in raising $22
million in equity funding in January 2003. As an investment-banking
firm that combines extensive technological operating knowledge with a
broad set of Wall Street experience, the partners of IA have
demonstrated success in helping companies grow through acquisitions.
"Tom and his team have a clear vision for rapidly accelerating
MSI's growth, through internal and external initiatives," said Doug
Brockway, managing director of Innovation Advisors. "We are very
enthusiastic about the opportunity to assist the company with an
acquisition growth strategy, leveraging the capital we helped raise
earlier this year."
About ManagedStorage International:
MSI is a provider of outsourced data protection and storage
management services to enterprise and service provider customers in
the US, UK, France, and Japan. MSI uses its proprietary GridWorks
management system to deliver guaranteed data management and data
protection services across all types of storage systems both onsite
and remotely. The company was formed in March 2000 and is privately
held. MSI is headquartered in Broomfield, Colorado. For a complete
description of ManagedStorage services and a list of partners, visit
the company's website at www.managedstorage.com.
About Innovation Advisors:
Innovation Advisors provides investment banking services to
middle- market technology companies. IA was built by a seasoned team
of executives, averaging over 20 years of experience, combining
extensive technology operating knowledge with broad Wall Street
expertise. The firm can assist a company in an analysis of current
operating strengths and weaknesses, provide advice for decisions
regarding the company's direction, and offer investment banking
services to successfully execute M&A or fulfill capital-raising needs
as part of the company's strategic plan. The IA team has closed over
60 M&A transactions totaling in excess of $4 billion, while also
raising $4 billion of capital in more than 50 transactions. The firm
is focused on providing expert advice and superior service to help
clients maximize value. Additional information on IA can be obtained
at the firm's website: www.innovationadvisors.com.

Contact:

Kevin Thomas
MSI
Phone: +1/720/566-5083
Email: kevin.thomas@managedstorage.com

Doug Brockway
Innovation Advisors
Managing Director
Phone: +1/781/890-2422
Email: dbrockway@innovationadvisors.com

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