|Industry||Semiconductors, Storage Industry|
|Fate||Acquired by PMC-Sierra in 2010|
|Headquarters||Sunnyvale, California, USA|
|Key people||CEO, and President: Greg Lang Chairman: Jonathan J. Judge|
|Employees||1,500 employees: design, technical, marketing and sales teams throughout North America, Europe, Israel and Asia|
On May 10 2010, PMC-Sierra, Inc. and Adaptec, Inc. announced they had entered into a definitive agreement of PMC-Sierra acquiring Adaptec's channel storage business on May 8 2010, which included Adaptec's RAID storage product line, the Adaptec brand, a global value added reseller customer base, board logistics capabilities, and SSD cache performance solutions. The transaction was expected to close in approximately 30 days, subject to customary closing conditions. Following the sale, Adaptec would retain its Aristos ASIC technology business, certain real estate assets, more than 200 patents, and approximately $400 million in cash and marketable securities.
Historically, Adaptec used to produce interface products involving SCSI, USB, IEEE 1394, iSCSI, Fibre Channel, and video. Adaptec once produced CD and DVD burning software under the brand names of Easy CD Creator and Toast, and network-attached storage devices like the Snap Server product line.
- "PMC-Sierra, Form 8-K, Current Report, Filing Date May 10, 2010". secdatabase.com. Retrieved Dec 30, 2012.
- PMC-Sierra Announces Agreement to Acquire the Channel Storage Business From Adaptec
- Adaptec Announces $34 Million Sale of RAID Storage Business to PMC-Sierra Inc.
- PMC-Sierra Completes Acquisition of Adaptec Channel Storage Business
- Adaptec Announces the Completion of the Sale of the Data Storage Business
- The New York Times: November 2, 1999 - Adaptec Looks To Strengthen Data-Storage Line
- The New York Times: November 7, 2002 - News Watch: Digital Recorders; An Afterlife on Disc For That Fading Video "Adaptec is one of several companies selling kits for converting analog tapes to digital video at affordable prices."
- PMC Sierra: June 18, 2010 - press release about the acquisition