Adelaide company to commercialize online backup solution

"Erasure encoding has been employed to ensure that backup can be recovered even if up to 50 percent of the backup's data is lost."

Glen said online backup is one of the fastest growing sectors of the IT industry with analysts tipping it to be worth as much as US$5 billion within the next 24 months.

"Currently available online back up solutions include purchasing offsite space at a premium cost. Memory Box's low cost has come about from it requiring approximately one percent of the storage requirements of other solutions by utilizing a community network," he said.

Sarugo will be trialling and product testing Memory Box over the next couple of months.

As part of its commercialization strategy, Sarugo will also be reviewing investment opportunities to grow the company and product.