Boston, MA 06/04/2013 (wallstreetpr) – The share prices of FalconStor Software Inc. (NASDAQ:FALC) had surged by 24.63 percent to close at $1.67 per share on Monday, which was around $0.33 higher than the previous closing price on Friday. The shares of the provider of data protection solutions had been trading in the range of $1.36 to $1.90 per share during the day. FalconStor Software Inc. (NASDAQ:FALC) had recorded 52 week low price level of $1.27 per share and 52 week high price level of $2.89 per share.
FalconStor Software Inc. (NASDAQ:FALC) is involved in providing disk based data protection solutions and optimization solutions. The data protection solutions provided by the company are built on a platform that is effective in delivering visualization of storage, WAN optimized replication of data, continuous data protection and automation of disaster recovery.
Partnership agreement with Avnet Embedded
FalconStor Software Inc. (NASDAQ:FALC) had recently partnered with Avnet Embedded to move into a global supply chain operations that would provide for worldwide integration and order fulfillment of the data protection solutions of the company. This agreement would enable Avnet Embedded to support FalconStor Software Inc. (NASDAQ:FALC) in its new partnership with IBM to combine the Virtual Tape Library of FalconStor with IBM servers and storage. This bundled package is aimed to address the midmarket customers of IBM.
The shares of FalconStor Software Inc. (NASDAQ:FALC) had witnessed heavy trading volume on Monday with nearly 1.91 million shares being exchanged hands, while the average trading volume of the company is at 116,773 shares per day.
