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Promise Technology and Sugon Formally Agree to Set Up Joint Venture

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HSINCHU, Taiwan, February 28, 2017 – Leading storage technology provider Promise Technology and Sugon, a top IT systems service provider in China, together with the Tianjin Binhai Hi-tech Industrial Development Area held a joint signing ceremony in Beijing on February 24th to officially announce the founding of the joint venture called “SuPro Stortek Co., Ltd”. The new company will carry out research and development, sales and support services of storage solutions. The joint venture will develop innovative storage solutions that meet the growing needs of customers in China and around the world. James Lee, Chairman of Promise Technology, Sugon’s President Li Jun and Senior Vice President Nie Hua and Wang Zong Kai, Director of the Tianjin Binhai Hi-tech Industrial Development Area, all attended the signing ceremony.

Under the agreement, the new company will leverage the technology and markets of Promise Technology and Sugon. The primary direction of the research and development efforts will focus on server SAN, hyperconverged and all flash arrays amongst other solutions. The scope of the business will include technology development, technology consultation, technology service, technology transfer, network security equipment, storage equipment and system integration (the business scope in the final license approved by the industrial and commercial authority takes precedence). Additionally, the joint venture company will build a storage solution research and development center, operations center, customer service center and sales headquarters in the Tianjin Binhai Hi-tech Industrial Development Area from which the company’s innovative storage solutions and complete sales and service support system will enter the Chinese and global markets.

James Lee, Chairman, Promise Technology: “Over the last few years, Promise and Sugon already have had extensive experience in cooperating together. Sugon is the leading integrated IT systems service provider in China with a long commitment to IT infrastructure, cloud computing and big data to provide users with reliable solutions that offer the highest performance. Sugon’s dedication to the storage industry is evident, especially in the area of distributed cluster NAS where they are one of the leaders. In this joint venture, Promise takes on the role of providing technology research and development together with Sugon, which will take the great experience we had working together in the past even further. The short term goal of both sides cooperating is to leverage the influence of Sugon to strengthen Promise’s competitiveness in the Chinese storage market. Promise’s product portfolio is very extensive and with Sugon’s cooperation the potential is enormous. In the future, the strong combination of Promise and Sugon will be able to leverage the synergy of the companies to create a relationship where “1 + 1 > 2” to not only expand the market in China, but around the world.”

Li Jun, President, Sugon: “Promise Technology is a global leader in the storage industry and a leading developer of high performance storage solutions. The company’s storage solutions are deployed in the enterprise IT, data center, video surveillance, cloud and rich media markets. For Sugon, storage is an integral and indispensable part of its ‘Data@China’ strategy for big data and large-scale cluster computing. Sugon and Promise Technology’s new joint venture will be based in one of the top four future technology cities, the Tianjin Binhai Hi-tech Industrial Development Area, and this will not only take the storage business of Sugon to a new level but also accelerate the process of the company’s ‘Data@China’ strategy.”

Promise Technology is a recognized global leader with 29 years of experience in the storage industry. Promise has many core technologies, including RAID technology, dual/multi controller systems, NAS and data service storage software. Additionally, Promise has a wide range of new solutions in the market covering hyperconverged infrastructure, all flash arrays, hybrid flash arrays, rich media and Internet of Things. For many years, Promise has had offices in Europe and the USA with sales and support teams around the world. Therefore, when looking at the completeness of the supply chain, the cooperation between the two companies is very necessary as they perfectly complement each other. Additionally, the goal of both companies from the cooperation is to quickly expand the market share in China and deepen the global market layout to increase the competitiveness of each brand.

About Sugon

Sugon is a leading Chinese IT systems service provider and developer of cloud computing solutions. Sugon offers solutions from infrastructure to cloud services and has opened 20 city-wide cloud computing centers called “city clouds” or “government clouds” which positions the company as the industry leader. Sugon is at the forefront of development and innovation to provide their customers with greater value and make China the industry leader. For more information, please visit www.sugon.com.

About Promise Technology Inc.

Promise Technology is a recognized global leader with 29 years of experience in the storage industry. Promise creates innovative solutions tailored to the unique needs of the IoT, Cloud, IT, Rich Media, and Surveillance markets. From personal cloud appliances, to scalable enterprise IT Infrastructure, blazingly fast post production tools, video security solutions and hyperconverged systems, Promise adapts its products to meet the real-world challenges customers face every day. Promise’s highly experienced sales and engineering teams are strategically located throughout the Americas, EMEA, and JAPAC regions to provide unparalleled services and support to its customers around the globe. For more information, visit: www.promise.com.