Thursday 23rd of February 2017 06:26:23 PM
Adaptec was founded by Larry Boucher in 1981. At first, Adaptec focused on devices with SCSI interfaces. On May 10, 2010, PMC-Sierra, Inc. and Adaptec, Inc. announced they had entered into a definitive agreement of PMC-Sierra acquiring Adaptec's channel storage business on May 8 2010, 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.