Spare Backup Finalizes Partnership Agreement with Comet for Co-Branded Cloud Computing and Data Backup Platform in the U.K.

October 13, 2009 9:03 AM EDT

Companies begin Sales Efforts in Progressive Launch Plan to 250 Stores

PALM DESERT, Calif.--(BUSINESS WIRE)-- Spare Backup today announced that has reached a definitive agreement to its memorandum of understanding filed on June 2, 2009 to launch a co-branded cloud computing platform with Comet Group, PLC. ("Comet"), throughout their 250 store locations in the U.K. The customer platform will serve as a central web based interface where a user can backup, store, sync, share retrieve and coordinate all their data across all their devices including PC's, cell phones and PDA's. The platform will be designed to be a personalized experience in the cloud. It will provide a robust feature set for the user offering an array of complimentary services tailored to each individual's patterns, uses and needs.

Under the terms of the agreement Spare Backup will provide the co-branded platform to Comet customers in a progressive rollout throughout Comet's 250 store locations. The platform will be sold as part of Comet's service plan program for all computers and start within the next 30 days.

Spare Backup will be responsible for maintaining the integrity of the data and for the administration and operation of the platform, website and service delivery.

Spare Backup is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention.

Spare Backup, from its inception, has been designed to provide a unique consumer backup solution, with cloud interoperability and marketed through strategic partnerships that deliver our products to targeted markets. Comet, a leading electrical specialist retailer in the U.K., has a store footprint and customer base that we believe will generate a high level of customer acceptance leading to significant revenue opportunities for us as partners," stated Cery Perle, CEO of Spare Backup. "We are excited to move forward in a long term partnership with Comet as we work diligently to solidify our position as the backup service of choice among the top retailers in Europe and as a leader in Cloud Computing services. We are confident that Cloud Computing is where the future is going, and that these services are the building blocks enabling Spare Backup to deliver additional layered services, further increasing the demand, stickiness of our products and enhanced revenue opportunities. We intend to position ourselves with leading retailers like Comet that have a proven ability to build a lucrative subscriber base around their valued customers. By co-branding these types of cloud services through Comet and our other leading reseller relationships, Spare Backup has effectively increased its market opportunity five-fold - from an estimated 130 million PC's sold annually to 1.2 billion units when including cell phones and other PDA's."

"We are excited by the opportunity that Spare Backup offers in providing our customers with a leading-edge back up solution" says Frank Vymetal, Head of Financial Services at Comet Group PLC. "We look forward to working closely with Spare Backup to develop further the opportunities that the cloud computing platform offers for our customers."

For additional information, visit http://www.sparebackup.com. For investor relations, please contact our investor relations department at 760-779-0251 Ext. 224 or ir@sparebackup.com.

About Spare Backup, Inc.:

Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively. The company's flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user's choice. The company is headquartered in Palm Desert, California.

Safe Harbor Statement:

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.

    Source: Spare Backup, Inc.

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