Adaptec snaps storage ties
Adaptec snaps storage ties
Oct 7, 2005: After some thorough analysis of businesses and operations, not to mention soul searching, Adaptec has decided to divest itself of its systems business.
No small decision considering this includes the recently acquired Snap Server network attached storage (NAS) and Eurologic block systems hardware and software assets. With an annual $80 million run rate, the systems business accounts for 20% of Adaptec's annual sales.
"it was a hard decision for us" said S. "Sundi" Sundaresh, president of Adaptect. "But we feel that selling our systems business is the best move for the company and its shareholders."
Despite having won numerous industry awards, Sundaresh said falling sales forced the company to act. "While we have successfully built a solid suite of storage systems products and gained a valuable leadership position in NAS, it became clear that we needed to simplify our business model." said Adaptec's interim CEO Scott Mercer.
Adaptec plans to increase its focus on core business components such as RAID software, virtualisation software stack and Adaptec Storage Manager.
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