Shares of Violin Memory, Inc. (NYSE:VMEM) Advance Upon News of Support Expansion

Global pioneer of award-winning flash storage solutions, Violin Memory, Inc. (NYSE:VMEM), announces availability of new block storage driver.

SANTA CLARA, CA–(Marketwired – October 25, 2016) – Violin Memory®, Inc., (VMEM) a global pioneer of award-winning all flash storage platform solutions for primary storage and active workloads, today announced availability of a Block Storage (Cinder) driver supporting the Red Hat OpenStack Platform 8 (Liberty release).

The driver supports the OpenStack Liberty release and integrates with Violin’s Concerto™ OS 7 operating system, which is designed to deliver expanded flash storage performance, tightly integrated data services and management simplicity for customers deploying OpenStack cloud services on Violin’s industry leading Flash Storage Platform (FSP). When combined with the new FSP 7650 and FSP 7450, which offer an industry leading combination of consistent low-latency, affordability, density, scalability, and performance, service providers and enterprise customers can easily deploy private and hybrid cloud solutions.

The Violin Cinder driver also builds upon the advanced data protection features of the Flash Storage Platform with the addition of support for two new features: Consistency Groups and LUN Encryption.

Consistency Groups can provide better data protection through snapshots and data backups, as well as remote replication. Through this feature, Red Hat OpenStack users can now take snapshots of multiple volumes within a Consistency Group, at a single point in time, to ensure data consistency on the FSP.

On the FSP, software based LUN encryption can be enabled or disabled on a per LUN basis across all of the different types of LUNs, including thick, thin, and deduplication LUNs. Since the encryption is software based, key management can be done off of the array, which can offer a higher degree of security than hardware based encryption.

OpenStack is a leading platform on which to build private and public cloud computing environments that support Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). Cinder is the infrastructure service for managing block-based storage in the OpenStack framework. Violin’s Cinder Driver for Concerto OS 7 integrates directly with OpenStack-based private and public clouds via its sophisticated REST API, delivering a highly agile platform that supports developer operations, with support for all required OpenStack Liberty Cinder APIs. The driver comes with every Flash Storage Platform at no additional cost and is fully documented to simplify deployment, installation, configuration, and troubleshooting.

“By supporting Red Hat OpenStack, enterprise customers can confidently leverage Violin’s industry leading all flash arrays in private cloud environments,” said Sudhir Prasad, Senior Director, Product Management. “When taking advantage of the industry leading combination of high performance and ultra-low latency of the FSP, customers can seamlessly deploy private cloud solutions while maintaining the SLAs their businesses demand.”

About Violin Memory, Inc.

Be Instrumental. Violin Memory, the industry pioneer in All Flash Arrays, is revolutionizing how businesses operate by enabling IT to Be Instrumental in organizations in such ways as unlocking the power of data and creating economic advantage. The consistent high-throughput and predictable low latency showcased by the Flash Storage Platform™ is combined with Concerto™ OS 7, a fully integrated storage operating system that enables complete data protection, business continuity, and data reduction services. Violin Memory’s innovative single storage platform solution delivers transformative performance for cloud, enterprise, virtualized business and mission-critical storage applications. The Violin Flash Storage Platform is designed to consolidate high performance and primary storage workloads onto a flexible, uniquely scalable solution called Scale Smart™, while achieving substantive CAPEX and OPEX savings. Founded in 2005, Violin Memory is headquartered in Santa Clara, California. For more information, visit www.violin-memory.com. Follow us on Twitter at twitter.com/violinmemory.

All Violin Memory news releases (financial, acquisitions, manufacturing, products, technology, etc.) are issued exclusively by Marketwire and are immediately thereafter posted on the company’s external website. For more information about Violin Memory, including Violin Memory’s trademarks, visit www.violin-memory.com.

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Shares of Violin Memory, Inc. (NYSE:VMEM) are actively moving +12.349% thus far today on the news and have traded in the range of $0.320 – 0.466 during the session.  A number of research firms have recently weighed in on the stock, providing future price targets. The covering firms currently have a consensus one-year price target of $4.400 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  This is the average number from the individual targets provided by the firms.  Analysts are projecting earnings per share of $-0.430 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $-2.180 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading -51.340% away from its 50-day moving average of $0.746.  Based on the most recent available data, the equity is -95.014% off of its 52-week high of $7.280 and +13.438% away from its 52-week low which is $0.320.

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Today, the stock opened at $0.320 and the last bid at the time of writing stood at $0.363.  During the session thus far, the equity dipped down to $0.320 and touched $0.466 as the high point.  Violin Memory, Inc. (NYSE:VMEM) has a market cap of $9.14M and has seen an average daily volume of 302,415 over the past three months.

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