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ZERTO CLOSES 2016 WITH FIFTH CONSECUTIVE YEAR OF NEAR TRIPLE-DIGIT SALES GROWTH DRIVEN BY GAINS IN HYBRID CLOUD MARKET

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ZERTO FILLS KEY SALES AND SUPPORT ROLES TO EXECUTE ON CORPORATE STRATEGY

Other Milestones Include Key Vertical and Geo Expansions, Growth Financing, BC/DR Software Innovations, Partner Program Launches and Strategic New Hires

Zerto, a leading provider of cloud IT resilience solutions, today announced it has achieved its fifth consecutive year of at or near triple-digit sales growth in 2016. The increased sales were driven by noteworthy key vertical and geography expansions, channel partner recruitment gains, a significant growth financing round and new hybrid cloud product innovations. The company also received multiple coveted awards and accolades, and added strategic leadership team members to help the company successfully execute on its business strategy.

“Zerto’s future-looking approach is focused on developing innovative technologies that evolve business continuity and disaster recovery (BC/DR) software to also serve as a hybrid cloud enabler, transforming the way our IT customers provide value to their businesses,” said Zerto CEO, ZivKedem. “Our sustained hyper-growth, with 2016 being a major inflection point, proves we’re moving in the right direction as enterprise customers, investors, analysts and partners continue to embrace our mission and product capabilities.”

Zerto’s continued success in 2016 that positions the company for strong performance in 2017 includes the following highlights:

Vertical and Geo Expansions – Proving itself as a true leader in the BC/DR space as well as the channel industry, in 2016 Zerto expanded in key vertical areas and regions globally. Geographically the US, DACH, Benelux and APJ experienced 89%, 73%, 33% and 34% year-over-year growth respectively. Vertically, the company extended YoY gains in healthcare with 91% growth, financial services with 81% growth, government with 198% growth, education with 249% growth and retail with 285% growth.

Enhanced Hybrid Cloud and BC/DR Capabilities with New Version of Zerto Virtual Replication – In the first half of 2016, Zerto released ZVR 4.5 to help enterprises quickly recover from ransomware attacks by providing an added layer to IT security strategy.  Journal File Level Recovery™ enables restoration of any file or folder from any point in time within the last seconds before accidental deletion, virus or data corruption.

The release of ZVR 5.0 in November extended to a 30-day journal, which also helps reduce backup constraints and storage costs. The most critical features within the latest release of the Enterprise Cloud Edition of 5.0 includes “One-to-Many” simultaneous replication to multiple targets to increase SLA flexibility. Additionally, the new Microsoft Azure support – with availability in the Microsoft Azure Marketplace – helps companies build their hybrid cloud infrastructure, while Zerto Mobile BC/DR app provides anytime, anywhere monitoring of IT environments.

Secured $70 Million in Late Stage Investor Growth Financing – In addition to strong sales growth, Zerto also raised $50 million in Series E funding in the first quarter of 2016, led by IVP. In Q2, Zerto secured an additional $20 million in Series E1 financing, led by CRV. The 2016 funding rounds are evidence of Zerto’s strong performance within the rapidly growing cloud industry, while reinforcing the growing importance BC/DR software plays by enabling hybrid cloud strategies to be successfully implemented.

Strategic New Hires –With a focus on sustaining growth and building on Zerto’s channel leadership, the company increased its global employee base by 53% in 2016. In addition to the executive team appointment of Rob Strechay as Zerto’s vice president of product, Zerto also named Jason Cowie as Zerto’s senior director of global partner and channel sales in the first half of the year.

In the second half of 2016, Zerto hired technology alliances industry veteran, Peter Kerr, to serve as Zerto’s director of global alliances based in San Francisco. Kerr has over 20 years of experience driving revenue growth and strategic value for a variety of technology companies, and is generating the same level of success at Zerto.

Further Commitment to 100 Percent Channel Focus with New Partner Program– In SeptemberZerto re-launched its Zerto Alliance Partner program, which provides partners with a unique and superior partner program experience that provides MDF incentives, discounts and other business-building rewards. With 382 new partners added to Zerto’s partner network and 2,600+ partner certifications in 2016, the ZAP program enhancements focus on delivering a unified experience and path to success for all of Zerto’s 1,500 reseller, cloud service provider (CSP) and system integrator partners.

Launch of ZertoCON Business Continuity Conference – In May, nearly 400 attendees converged for the IT industry’s next generation BC/DR conference, ZertoCON 2016. The event hosted executives, thought leaders and IT professionals from a wide range of industries and organizations to discuss building confidence in IT with the goal of moving businesses forward. Zerto looks forward to hosting ZertoCON 2017 again in Boston May 22-24, 2017.

Major Business and IT Industry Awards and Accolades – Zerto’s ongoing series of industry distinctions spanned the globe and various segments to include:

 

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Oil prices hit 11-month highs on tighter supplies, Fed assurance on low rates

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Oil prices hit 11-month highs on tighter supplies, Fed assurance on low rates 1

By Florence Tan

SINGAPORE (Reuters) – Oil prices rose for a fourth straight session on Thursday to the highest levels in more than 11 months, underpinned by monetary easing policies and lower crude production in the United States.

Brent crude futures for April gained 19 cents, 0.3%, to $67.23 a barrel by 0400 GMT, while U.S. West Texas Intermediate crude for April was at $63.30 a barrel, up 8 cents, 0.1%.

Both contracts touched their highest since January earlier in the session with Brent at $67.44 and WTI at $63.67.

An assurance from the U.S. Federal Reserve that interest rates would stay low for a while boosted investors’ risk appetite and global financial markets.

“Comments from Fed Chairman, Jerome Powell, earlier in the week relating to the need for monetary policy to remain accommodative have probably helped, but sentiment in the oil market has also become more bullish, with expectations for a tightening oil balance,” ING analysts said in a note.

A rare winter storm in Texas has caused U.S. crude production to drop by more than 10%, or 1 million barrels per day (bpd) last week, the Energy Information Administration said. [EIA/S]

Fuel supplies in the world’s largest oil consumer could also tighten as its refinery crude inputs had dropped to the lowest since September 2008.

The Organization of the Petroleum Exporting Countries and their allies including Russia, a group known as OPEC+, is due to meet on March 4.

The group will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for now given the risk of new setbacks in the battle against the pandemic.

Extra voluntary cuts by Saudi Arabia in February and March have tightened global supplies and supported prices.

(Reporting by Florence Tan)

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Australian media reforms pass parliament after last-ditch changes

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Australian media reforms pass parliament after last-ditch changes 2

By Colin Packham and Swati Pandey

CANBERRA (Reuters) – The Australian parliament on Thursday passed a new law designed to force Alphabet Inc’s Google and Facebook Inc to pay media companies for content used on their platforms in reforms that could be replicated in other countries.

Australia will be the first country where a government arbitrator will decide the price to be paid by the tech giants if commercial negotiations with local news outlets fail.

The legislation was watered down, however, at the last minute after a standoff between the government and Facebook culminated in the social media company blocking all news for Australian users.

Subsequent amendments to the bill included giving the government the discretion to release Facebook or Google from the arbitration process if they prove they have made a “significant contribution” to the Australian news industry.

Some lawmakers and publishers have warned that could unfairly leave smaller media companies out in the cold, but both the government and Facebook have claimed the revised legislation as a win.

“The code will ensure that news media businesses are fairly remunerated for the content they generate, helping to sustain public-interest journalism in Australia,” Treasurer Josh Frydenberg and Communications Minister Paul Fletcher said in a joint statement on Thursday.

The progress of the legislation has been closely watched around the world as countries including Canada and Britain consider similar steps to rein in the dominant tech platforms.

The revised code, which also includes a longer period for the tech companies to strike deals with media companies before the state intervenes, will be reviewed within one year of its commencement, the statement said. It did not provide a start date.

The legislation does not specifically name Facebook or Google. Frydenberg said earlier this week he will wait for the tech giants to strike commercial deals with media companies before deciding whether to compel both to do so under the new law.

Google has struck a series of deals with publishers, including a global content arrangement with News Corp, after earlier threatening to withdraw its search engine from Australia over the laws.

Several media companies, including Seven West Media, Nine Entertainment and the Australian Broadcasting Corp have said they are in talks with Facebook.

Representatives for both Google and Facebook did not immediately respond to requests from Reuters for comment on Thursday.

(Reporting by Colin Packham in Canberra and Swati Pandey in Sydney; Writing by Jonathan Barrett; Editing by Leslie Adler, Stephen Coates and Jane Wardell)

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OPEC+ to weigh modest oil output boost at meeting – sources

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OPEC+ to weigh modest oil output boost at meeting - sources 3

By Ahmad Ghaddar, Alex Lawler and Olesya Astakhova

LONDON/MOSCOW (Reuters) – OPEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for now given the risk of new setbacks in the battle against the pandemic.

The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, cut output by a record 9.7 million bpd last year as demand collapsed due to the pandemic. As of February, it is still withholding 7.125 million bpd, about 7% of world demand.

In January OPEC+ slowed the pace of a planned output increase to match weaker-than-expected demand due to continued coronavirus lockdowns. Saudi Arabia made extra voluntary cuts for February and March.

Three OPEC+ sources said an output increase of 500,000 barrels per day from April looked possible without building up inventories, although updated supply and demand balances that ministers will consider at their March 4 meeting will determine their decision.

“The oil price is definitely high and the market needs more oil to cool the prices down,” one of the OPEC+ sources said. “A 500,000 bpd increase from April is an option – looks like a good one.”

A rally in prices towards $67 a barrel, the highest since January 2020, the rollout of vaccines and economic recovery hopes have boosted confidence the market could take more oil. India, the world’s third biggest oil importer, has urged OPEC+ to ease production cuts.

Saudi Arabia’s voluntary cut of 1 million barrels per day (bpd) ends next month. While Riyadh hasn’t shared its plans beyond March, expectations in the group are growing that Saudi Arabia will bring back the supply from April, perhaps gradually.

Some OPEC+ members also anticipate that the Saudis will be willing to ease cuts further, but it was not clear if they had had direct communication with Riyadh.

Saudi Arabia has warned producers to be “extremely cautious” and some OPEC members are wary of renewed demand setbacks. One OPEC country source said a full return of the Saudi barrels in April would mean the rest of OPEC+ should not pump more yet.

“The Saudi voluntary cut will be back to the market,” the source said. “I’m personally with no more relaxation, not until June.”

Russia, one of the OPEC+ countries which was allowed to boost output in February, is keen to raise supply and a source last week said Moscow would propose adding more oil if nothing changed before the March 4 virtual meeting.

(Additional reporting by Rania El Gamal and Nidhi Verma; Editing by Elaine Hardcastle)

 

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