Mergers and Acquistions News
Categories: Hardware
August 29th 2008, 16:25PM
A definitive agreement has been signed this week between Adaptec and Aristos Logic for the acquisition of the Californian firm.
The deal consists of a $41 million (£22.4 million) offer from Adaptec, to be paid in cash subject to satisfaction of closing conditions.
Aristos Logic is a leading developer of multi-protocol RAID storage processor technology, making it a strategic acquisition for storage solutions provider Adaptec.
The deal will allow Adaptec to progress in high-growth adjacent RAID segments, said S 'Sundi' Sundaresh, Adaptec's president and chief executive.
"As we build-out our I/O strategy - advancing I/O performance while integrating additional controller-based system functionality beyond RAID - the assets we will obtain through this acquisition will become even more valuable," he added.
For the first fiscal quarter of this year, Adaptec reported gross margins for continuing operations of 47 per cent - compared to 32 per cent a year earlier.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)
- May 2011 (20)
- April 2011 (18)
- March 2011 (21)