Iomega has announced the availability of its new REV 120GB backup drive, the third generation of its REV technology.

The REV 120GB Backup Drive is available as an external USB 2.0 model for $837.71 and as an internal SATA interface model for the same price.

The drive ships with one REV 120GB disk and EMC's Retrospect Express software for automatic backup and disaster recovery.

Also available are the REV 120GB Server Kit models that include one REV 120GB drive and five REV 120GB disks and CA's BrightStor, ArcServe Backup software with disaster recovery.

Iomega is pitching the new backup system to the small business and branch office markets and offers 50GB more storage space for less cost than the previous generation, the REV 70. The REV 70 systems have also been reduced to $722.24

Iomega claims there are more than 350,000 REV drives and some two million REV disks in use today and the new REV 120GB drive is read backwards compatible with REV 70GB disks, but not writable.

REV 120GB disks are available in single-disk packs for $146.97 and five-disk packs for $650.85.