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Gadzoox produced hardware and software for the entry-level storage area network market. After filing bankruptcy in 2002, its assets were acquired by Broadcom in 2003 for $5.8 million.

Gadzoox
FateBankruptcy; Acquired by Broadcom
Founded1996; 23 years ago (1996)
Defunct2003; 16 years ago (2003)
HeadquartersSan Jose, California

HistoryEdit

The company was founded in 1996.[1]

In March 2000, the company acquired SmartSAN for $23.5 million.[2]

In June 2000, the company launched Axxess.[3]

In July 2000, during the dot-com bubble, the company became a public company via an initial public offering. Shares were priced at $21 each but soared as high as $87 each on the first day of trading, giving the company a market capitalization of $1.97 billion.[4]

In August 2000, Bill Sickler, the CEO of the company, resigned after announcing a financial restatement.[5] A week later, Christine E. Munson, the CFO of the company, announced her resignation.[6]

In January 2002, the company raised $8.9 million in funding.[7]

In August 2002, the company filed bankruptcy.[8]

In March 2003, Broadcom acquired the assets of the company for $5.3 million.[9]

ReferencesEdit

  1. ^ Roberts, Paul F. (March 3, 2003). "Broadcom buys Gadzoox assets for $5.8 million". International Data Group.
  2. ^ SHANKLAND, STEPHEN. "Short Take: Gadzoox beefs up storage power". CNet.
  3. ^ Connor, Deni (June 12, 2000). "Gadzoox launches storage pooling devices". International Data Group.
  4. ^ "GADZOOX SOARS IN IPO". Wired. July 20, 1999.
  5. ^ Kraeuter, Chris (August 8, 2000). "Gadzoox CEO quits after restatement". Marketwatch.
  6. ^ McGarry, Debra (August 17, 2000). "Gadzoox CFO moves on". Marketwatch.
  7. ^ SHANKLAND, STEPHEN (January 24, 2002). "Gadzoox raises $8.9 million". CNet.
  8. ^ "GADZOOX NETWORKS FILES FOR BANKRUPTCY PROTECTION". New York Times. Dow Jones & Company. August 24, 2002.
  9. ^ "Broadcom acquires Gadzoox assets". American City Business Journals. March 3, 2003.