Adaptec Buys IBM RAID Assets7:00 PM EST Wed. Jun. 30, 2004
Adaptec expanded its RAID business with Tuesday's acquisition of certain RAID data-protection intellectual property, RAID products, and RAID expertise from IBM.
As part of the agreement, Milpitas, Calif.-based Adaptec will manufacture and sell RAID controllers to IBM for the latter's iSeries and pSeries servers in a deal expected to bring about $150 million in revenue to Adaptec.
Terms of the deal were not revealed. However, an Adaptec spokesperson said the company plans to disclose some of the details during the company's quarterly earnings conference July 29.