sTec, Inc.

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sTec
IndustryComputer data storage
PredecessorSimple Technology
FoundedMarch 1990
FateAcquired by HGST, a Western Digital company
Headquarters
San Jose, California
,
USA
Number of locations
San Jose, Sunnyvale and Santa Ana, Calif., USA; China; Germany; India; Italy; Japan; Malaysia; Taiwan
ParentWestern Digital
Websitehgst.com

sTec is an American computer data storage technology company headquartered in California,[1] with research and development, sales, support or manufacturing sites in China, India, Japan, Malaysia, Silicon Valley (USA), and Taiwan.

sTec, formerly Simple Technology, was founded by Manouch Moshayedi and Mark Moshayedi in 1990. The company designs, develops and manufactures solid-state drives (SSDs) based on flash memory and dynamic random access memory (DRAM), providing them to data center environments and original equipment manufacturer (OEM) customers.[2]

Customers include Dell, EMC, Fujitsu, HP, and IBM.[2][3] sTec also has distributors, resellers and system integrators.

sTec was acquired by HGST, a Western Digital company. Western Digital completed the acquisition of sTec on September 12, 2013.

History

In 1990, Manouch Moshayedi and Mike Moshayedi started Simple Technology, a company that designed and sold computer memory modules. Three years later, Mark Moshayedi joined the company. Manouch and Mike are brothers. They are of Iranian (Persian) descent.[4] Mark is related to them.[citation needed]

In 1994, Simple Technology bought Cirrus Logic’s flash controller operation, to enter the flash memory business for consumer electronic devices.[4] In 1998, Simple Technology bought SiliconTech Inc., obtaining that company's business flash memory customer base and operation.[4] In 1999, sTec was first to market the 1 GB solid-state IDE storage devices, SDRAM modules and also 320 MB Type II CompactFlash.[citation needed]

Simple Tech became a publicly traded company on the NASDAQ stock exchange on September 26, 2000, under the ticker symbol of STEC.[5]

That same year, Simple Tech sold its consumer business to Fabrik Inc. of San Mateo, California, and renamed itself sTec.[4] The company then focused on business-flash memory products. At that point Mike Moshayedi resigned from sTec, Mark Moshayedi became president and chief operating officer and Manouch Moshayedi became CEO.[4][6]

In March 2007, Mark Moshayedi was promoted to president.[7] This same year, sTec became the industry's first supplier to deploy enterprise-class SSDs to OEMs.

In 2009, after announcing EMC Corporation as the sole customer of its ZeusIOPS enterprise SSDs, sTec sales reached the $1 billion market capitalization.[3]

In April 2011, sTec announced it acquired the assets of Knowledge Quest Infotech Private Limited in Pune, India.[8]

In September 2012, Mark Moshayedi was named sTec chief executive officer.[9]

On June 24, 2013, Western Digital corporation announced sTec would become part of its HGST subsidiary, with a purchase price estimated at $340 million.[10]

References

  1. ^ Bloomberg BusinessWeek. “STEC Profile.” September 20, 2010.
  2. ^ a b By Beth Pariseau, SearchStorage. “STEC Inc. CTO looks at the future of flash and solid-state drives.” August 17, 2009.
  3. ^ a b By Paul Shread, Enterprise Storage Forum. “STEC Has EMC to Thank for Its Rapid Growth.” August 4, 2009.
  4. ^ a b c d e Mellor, Chris (June 17, 2008). "There's a lot of sizzle with this STEC". The Register. Retrieved 2018-09-29.
  5. ^ Huffstutter, P. J. (March 16, 2000). "Simple Technology IPO Planned With $57.5-Million Goal". Los Angeles Times. ISSN 0458-3035. Retrieved September 29, 2018.
  6. ^ Malik, Om (February 11, 2007). "Fabrik to buy SimpleTech, get big fast". Gigaom. Retrieved September 29, 2018.
  7. ^ NewsBlaze. “STEC Promotes Chief Technical Officer and Chief Operating Officer Mark Moshayedi to President.”
  8. ^ "STEC Acquires Assets of InfoTech PVT LTD and establishes a strategic R&D presence in India" (PDF). Press release. April 19, 2011. Archived from the original (PDF) on December 11, 2011. Retrieved August 29, 2013. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  9. ^ Alawadhi, Neha (September 18, 2012). "Stec CEO resigns after insider trading charges". Reuters. Retrieved September 29, 2018.
  10. ^ Deagon, Brian (June 24, 2013). "Western Digital Acquires Solid State Drive Maker Stec". Investor's Business Daily. Retrieved September 29, 2018.
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