Stratus Technologies

Topics: Technology Escrow

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Stratus Technologies

CHALLENGE:

Increased customer demands for added technology system protection impede business transactions and slow specific sales.

SOLUTION:

Iron Mountain® Technology Escrow Services
Secure Shredding Services

VALUE:

  • Continuity of operations for both Stratus and its customers
  • Reduced risk of operational downtime in the event of unexpected complications
  • Increased protection of customer software that helps to close deals

Technology Escrow Agreement Secures Additional Revenue and Expedites Business Deals

Established in 1980, Stratus Technologies was created after its founders came to the realization that commercial enterprises were relying on computer systems to operate an increasing number of critical processes. After arriving at this conclusion, Stratus founders set out to meet the rising demand for dependable, trustworthy computer systems accompanied by 24/7 support services. More than three decades later, in this “always-on” world of mobile devices and internet-dependent businesses, the need for even more reliable, ultra-resilient computer platforms and around-theclock, worldwide support services continues unabated.

From its inception, Stratus has been a provider of computer platforms, solutions, and services that ensure industry-leading reliability and continuous operations for a wide variety of organizations—from small businesses to global Fortune 500 companies. While its main support, administrative, and technical operations are located in Massachusetts, Stratus is an international company with sales and support staff located throughout the world, thus enabling the company to provide the 24/7 support and service coverage demanded by its customer base and their critical applications.

In addition to Stratus’ proven capability to provide dependable computer systems and its best-in-class customer service, vice president and general counsel Bob Kellegrew states that Stratus also recognizes various other security and regulatory requirements of its customers. Such recognition lead to the establishment of a technology/software escrow program with a world class third-party escrow services vendor. “The applications used by our customers on our computing platforms are very critical,” Kellegrew said, adding, “Our customers have demanded that we provide this escrow service for key Stratus technology and software to ensure their right to access [as well as their] continued use of these critical Stratus computing platforms.”

“Stratus customers are very sophisticated and operate in highly-regulated markets. Accordingly, our customers have high expectation and security needs.”

Bob Kellegrew, Vice President and General Counsel

Clearly a comprehensive form of protection is needed to address these expectations and security needs. “Clients wanted to make sure that they had the right to access and use this proprietary technology and software to enable continuing operation and support their critical operation should Stratus be unable to provide the required support due to any natural disasters, industry disruptions, or other causes attributable to Stratus,” Kellegrew said. Obviously, without an escrow service with a well-recognized and trusted provider such as Iron Mountain in place, transactions with certain clients would be delayed or impossible.

“The fact that we have an escrow arrangement with Iron Mountain in many cases enables us to do business with some customers that wouldn’t otherwise do business with us [unless] they were assured that we had the means and the capability to protect our software and make it available to them.”

Bob Kellegrew, Vice President and General Counsel

Storing & Protecting Technology with a Trusted Third Party

Already familiar with Iron Mountain’s proven use of best practices via its disaster recovery systems, Stratus felt confident that Iron Mountain offered a safe, streamlined plan for storing and protecting software source code. Accordingly, Stratus has, over time, expanded its escrow arrangement with Iron Mountain to both better facilitate business operations and to better accommodate the increasing customer requirements for this escrow capability. Relying on Iron Mountain’s solid reputation and the high level of customer confidence in its ability to carry out escrow arrangements, Stratus’ relationship with Iron Mountain has allowed it to implement escrow security arrangements for customers when required—all in a timely, efficient, and cost-effective manner.


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