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When most people hear the acronym SAAS they automatically think of software as a service, but Symantec wants people to think storage as a service instead, at least in the case of Symantec Protection Network.

SPN is Symantec’s first venture into the hosted backup and hosted storage market, and the company is hoping that the service will attract businesses looking for e-vault capabilities. Based upon a thin client model, SPN is offered as a standalone service, as well as a backup media option for the latest version of Backup Exec, the company’s premier backup software package.

While some may think of the pairing of a SAAS product with a traditional backup application as odd, the simple fact is that SPN can extend Backup Exec’s capabilities into the offsite backup and disaster recovery market.

Of course, Symantec is not the first to delve into e-vault technology, and the company is faced by a long list of competitors who have established themselves in the market. Big names, such as Iron-Mountain,  EMC and Amazon’s S3 have pretty much defined the market and have paved the way for the technology to be readily accepted.

To be successful in that saturated market, Symantec is going to have to bring something new to the table. The company is placing its hopes on a simple-to-use interface, integration with Backup Exec, strong name recognition and channel partners to foster success. Competitive pricing is another area that Symantec hopes will bring customers. SPN has been broken down into two major service options: Symantec Online Backup, which costs  $9.99 per month for 10GB for the basic plan and $35 per month for 10 GB for the premium plan; and Symantec Online Storage for Backup Exec at $9.99 per month for 10 GB, or $110 annually.