EMC Forms Decho Corporation To Address The Growing Personal Information Challenge
EMC Corporation (NYSE:EMC), the world leader in information infrastructure solutions, today established Decho Corporation (www.decho.com), a new company focused on helping people protect, manage and enrich the ever-growing quantity of personal digital information in their lives, also known as an individual’s “digital echo.” Decho will be a combination of two formerly separate EMC businesses – Mozy, Inc. and Pi Corp. Decho will continue to offer consumers and businesses the top-rated MozyTM-branded online backup service (www.mozy.com), as well as introduce new cloud-based services for individuals over time.
EMC Corporation (NYSE:EMC), the world leader in information infrastructure solutions, today established Decho Corporation (www.decho.com), a new company focused on helping people protect, manage and enrich the ever-growing quantity of personal digital information in their lives, also known as an individual's "digital echo." Decho will be a combination of two formerly separate EMC businesses - Mozy, Inc. and Pi Corp. Decho will continue to offer consumers and businesses the top-rated MozyTM-branded online backup service ( www.mozy.com), as well as introduce new cloud-based services for individuals over time.
The personal information once stored in albums, boxes and filing cabinets-such as financial records, personal documents, family photos and videos, portfolios of professional work, and correspondence-comprises each person's digital echo. This information is increasingly scattered across different computers, digital devices and web sites. The quantity of personal digital information produced every year around the world is now measured in the hundreds of billions of gigabytes and is expected to continue to grow annually by almost 60 percent, according to analysts. Moreover, the lifespan of this information is beginning to be measured in decades, and it is ever more valuable and often irreplaceable.
The shift of personal information from physical to digital has not yet been accompanied by a parallel shift in the way this information is organized and preserved in digital form. Decho will help individuals take full control of their digital echo through a set of cloud-based services that will enable easy and full utilization, organization and enrichment of important personal information.
"There is an immense, untapped business opportunity as personal information management inevitably migrates into the cloud," said David Goulden, EMC Executive Vice President and Chief Financial Officer. "By bringing Mozy and Pi together to form Decho as a new subsidiary, we are creating a focused organization that can deliver on the promise of cloud-based personal information management and can help individuals everywhere preserve, manage and enrich the information most important to them."
Decho's initial service offering is the Mozy online backup service, the leading online backup service for both consumers and businesses. With over 900,000 users and over 25,000 business customers, Mozy safeguards over 10 petabytes (over ten million gigabytes) of customer information at its datacenters around the world. Mozy online back up offers the most comprehensive online backup solution on the market, and offers simple, automatic and secure online backup for both consumers and businesses, with support for laptops, desktops and servers running either Mac OS X or Windows.
Decho is wholly owned by EMC, which acquired Mozy, Inc. in October 2007 and Pi Corp. in February 2008. Pi was originally founded by Paul Maritz, who was named CEO of VMware earlier this year. The new company will maintain and grow its development and operations centers in Bangalore, Montreal, Seattle and Utah. The company will be headquartered in Seattle.
EMC Corporation (NYSE: EMC) is the world's leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information. Information about EMC's products and services can be found at www.EMC.com.
Decho is dedicated to helping people protect, manage and enrich their "digital echo" - the valuable and ever-growing body of personal, digital information that reverberates through their lives. Mozy, the company's flagship offering, is the leading online backup service for both consumers and businesses, and Decho is actively developing other services. Decho is headquartered in Seattle and is an EMC company. For more information, please go to www.decho.com.
Mozy is a trademark of Decho Corporation. All other trademarks are the property of their respective owners.
This release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in information technology spending; (iii) our ability to protect our proprietary technology; (iv) risks associated with managing the growth of our business, including risks associated with acquisitions and investments and the challenges and costs of integration, restructuring and achieving anticipated synergies; (v) fluctuations in VMware, Inc.'s operating results and risks associated with trading of VMware stock; (vi) competitive factors, including but not limited to pricing pressures and new product introductions; (vii) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (viii) component and product quality and availability; (ix) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid technological and market change; (x) insufficient, excess or obsolete inventory; (xi) war or acts of terrorism; (xii) the ability to attract and retain highly qualified employees; (xiii) fluctuating currency exchange rates; (xiv) the impact of any expense reduction initiatives; and (xv) other one-time events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and Exchange Commission. EMC disclaims any obligation to update any such forward-looking statements after the date of this release.