Adaptec
 |
|
| Type | Public shell company: |
|---|---|
| Industry | Computers |
| Fate | Sold its storage business operations to PMC-Sierra in 2010, renamed to ADPT Corporation |
| Founded | 1981 |
| Headquarters | Milpitas, California, USA |
| Key people | S. "Sundi" Sundaresh, former CEO |
| Products | None. Formerly data equipment, most notably SCSI host adapters |
| Revenue |
 US$ 167.40 Million (2008)[1]
|
| Operating income |
 US$ -40.48 Million (2008)[1]
|
| Net income |
US$ -9.62 Million (2008)[1]
|
| Total assets | US$ 700.09 Million (2008)[1] |
| Total equity | US$ 424.10 Million (2008)[1] |
| Employees | 391 (December 2008)[1] |
| Website | http://www.adaptec.com/ www.adaptec.com |
Adaptec by PMC is a computer hardware brand owned by PMC-Sierra that is used on some of its host adapters for connecting storage devices to computers. The production line of Adaptec is in Indonesia. Products are made to interface with SCSI, Serial ATA, and Serial attached SCSI. Some of its host adapters are used to perform SSD caching of hard drives. Adaptec is also used to brand battery modules to support its host bus adapters and storage interface cables.
History
Adaptec, Inc. was the name of a company based in Milpitas, California that produced storage products until it sold its storage business operations to PMC-Sierra.
On 2010-05-10, PMC-Sierra, Inc. and Adaptec, Inc. announced they had entered into a definitive agreement of PMC-Sierra acquiring Adaptec's channel storage business on 2010-05-08, 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.[2][3]
On 2010-06-08, PMC-Sierra, Inc. and Adaptec, Inc. announced the completion of the acquisition.[4][5]
On 2010-06-25, Adaptec, Inc. announced its renaming to ADPT Corporation had taken effect on 2010-06-22.[6]
ADPT Corporation era
On 2010-07-30, ADPT Corporation announced it had received a notice from the staff of the Nasdaq Listing Qualifications Department on 2010-07-27 indicating that the Nasdaq would suspend ADPT's common stock from trading on The Nasdaq Global Market at the opening of business on 2010-08-05. The delisting notice resulted from ADPT's sale of substantially all of its operating business to PMC-Sierra, Inc., and the Nasdaq staff's subsequent determination that ADPT is a "public shell." ADPT did not intend to appeal this determination.[7]
On 2011-07-28, ADPT Corporation announced the acquisition of Baseball Heaven, Inc..[8]
On 2011-07-28, ADPT Corporation announced the acquisition of The Show baseball program. Under the terms of the definitive transaction agreements, a subsidiary of ADPT would own 75% of The Show, LLC and John and Deborah Conner would own 25%.[9]
On 2011-10-03, ADPT Corporation announced its renaming to Steel Excel Inc.[10]
Steel Excel Inc. era
On 2011-10-03, Steel Excel Inc. announced the acquisition of the business and assets of Rogue Pressure Services, LLC.[11]
On 2012-02-09, Steel Excel Inc. announced the acquisition of the business and assets of Eagle Well Services, Inc.[12]
On 2012-02-09, Steel Excel Inc. and BNS Holding, Inc. announced they are engaged in preliminary discussions regarding a possible acquisition by Steel Excel of BNS.[13]
Products
Historically, this company 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.
References
- ^ a b c d e f "ADPT - Adaptec, Inc. - Google Finance". Archived from the original on 19 April 2009. http://www.google.com/finance?q=adpt. Retrieved 2009-03-28.
- ^ 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
- ^ Adaptec Changes Its Name to ADPT Corporation
- ^ ADPT Receives Notice of NASDAQ Delisting Determination
- ^ ADPT Corporation Acquires Baseball Heaven
- ^ ADPT Corporation Acquires The Show
- ^ ADPT Corporation Changes Name to Steel Excel Inc. and Completes Reverse/Forward Stock Split
- ^ Steel Excel Acquires Rogue Pressure Services
- ^ Steel Excel Acquires Eagle Well Services
- ^ Steel Excel and BNS Enter Into Preliminary Discussions
- 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
