STec, Inc.

Last updated
sTec
Industry Computer data storage
PredecessorSimple Technology
FoundedMarch 1990;34 years ago (1990-03)
FateAcquired by HGST, a Western Digital company
Headquarters
San Jose, California
,
USA
Number of locations
San Jose, Sunnyvale and Santa Ana, Calif., USA; China; Germany; India; Italy; Japan; Malaysia; Taiwan
Parent Western Digital
Website hgst.com

sTec was an American computer data storage technology company headquartered in California. [1] It had research and development, sales, support and manufacturing sites in China, India, Japan, Malaysia, Silicon Valley (USA), and Taiwan.

Contents

sTec, formerly Simple Technology then SimpleTech, was founded by Manouch Moshayedi and Mark Moshayedi in 1990. The company designs, develops and manufactures solid-state drives (SSDs) based on flash memory and dynamic random access memory (DRAM), providing them to data center environments and original equipment manufacturer (OEM) customers. [2]

Customers include Dell, EMC, Fujitsu, HP, and IBM. [2] [3] sTec also has distributors, resellers and system integrators.

sTec was acquired by HGST, a Western Digital company. Western Digital completed the acquisition of sTec on September 12, 2013.

History

Simple Technology

In 1990, Simple Technology was founded by two brothers from Iran: Manouch Moshayedi and Mike Moshayedi. Using $100,000 of their own savings, the brothers created a company that designed and sold computer memory modules. Three years later, Mark Moshayedi (aged 38 at the time) joined the company as chief operating and technical officer. [4] [5] They are of Iranian (Persian) descent. [6] Mark is related to them.[ citation needed ] From 1990 to 2007, the company designed and manufactured flash solid-state drives, dynamic random-access memory (DRAM), and static random-access memory (SRAM).[ citation needed ].

In 1994, Simple Technology bought Cirrus Logic’s flash controller operation, to enter the flash memory business for consumer electronic devices. [6] In 1998, Simple Technology bought SiliconTech Inc., obtaining that company's business flash memory customer base and operation. [6] In 1999, sTec was first to market the 1 GB solid-state IDE storage devices, SDRAM modules and also 320 MB Type II CompactFlash.[ citation needed ]

Simple Technology became a publicly traded company on the NASDAQ stock exchange on September 26, 2000, under the ticker symbol of STEC. [7]

SimpleTech

The company shortened its name to SimpleTech in 2001. [8] [9] [5]

The SimpleShare consumer network attached storage device was announced in November 2004. [10] In 2006, SimpleTech announced its first portable external hard drive designed by Pininfarina.[ citation needed ]

In early 2007, the company sold the SimpleTech consumer division to Fabrik Inc. (a company funded and founded by Keyur Patel, Anaal Udaybabu along with Mike Cordano) for $43 million in cash. [8] [9] [5] [11] [6]

Fabrik continued to develop and market products under the SimpleTech brand including the Joggle.com website and the environmentally friendly [re]drive introduced in 2008. [12] [13] [14] [15] [16] [17] [18]

Fabrik was acquired by Hitachi in 2009 for an estimated $950 million.[ citation needed ]

sTec

Following the 2007 sale, the remaining OEM business then operated as sTec, Inc. and was publicly traded on NASDAQ until being acquired in 2013.[ citation needed ] The company then focused on business-flash memory products. At that point Mike Moshayedi resigned from sTec, Mark Moshayedi became president and chief operating officer and Manouch Moshayedi became CEO. [6] [19]

In March 2007, Mark Moshayedi was promoted to president.[ citation needed ] This same year, sTec became the industry's first supplier to deploy enterprise-class SSDs to OEMs.

In 2009, after announcing EMC Corporation as the sole customer of its ZeusIOPS enterprise SSDs, sTec sales reached a $1 billion market capitalization. [3]

In April 2011, sTec announced it acquired the assets of Knowledge Quest Infotech Private Limited in Pune, India. [20]

In September 2012, Mark Moshayedi was named sTec chief executive officer. [21]

On June 24, 2013, Western Digital corporation announced sTec would become part of its HGST subsidiary, with a purchase price estimated at $340 million. [22]

Products

NAND Flash controller LXDV1S.jpg
NAND Flash controller

SimpleTech is a consumer brand of external hard drives and backup products owned by Fabrik Inc. and designed to integrate computer hardware, software, and online services to help consumers store, protect, manage, and share digital content. The brand and product line was originally created by Simple Technology, a company founded in 1990, which later changed its name to SimpleTech in 2001.

The SimpleTech brand and consumer products included flash memory cards, USB flash drives, memory upgrades, and external and portable disk drive storage, to Fabrik in February 2007. Fabrik acquired the SimpleTech's storage platform to integrate and deliver backup and content management software and web services (FabrikUltimateBackup.com and Joggle.com), allowing consumers to store, access, manage and share their digital content. [23]

The SimpleTech product line includes the Signature Mini USB Portable Drives, the Pro Drive family, and the environmentally friendly SimpleTech [re]drive. [24] The original design of the SimpleTech portable external storage product line was inspired by the Ferrari design team Pininfarina. [24] [8] [9] [25]

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References

  1. ↑ Bloomberg BusinessWeek. “STEC Profile.” September 20, 2010.
  2. 1 2 By Beth Pariseau, SearchStorage. “STEC Inc. CTO looks at the future of flash and solid-state drives.” August 17, 2009.
  3. 1 2 By Paul Shread, Enterprise Storage Forum. “STEC Has EMC to Thank for Its Rapid Growth.” August 4, 2009.
  4. ↑ P J. Huffstutter, March 16, 2000. “Simple Technology IPO Planned With $57.5-Million Goal.” LA Times. Retrieved on December 17, 2008.
  5. 1 2 3 Chris Mellor, June 17, 2008. “There's a lot of sizzle with this STEC.” The Register. Retrieved on December 17, 2008.
  6. 1 2 3 4 5 Mellor, Chris (June 17, 2008). "There's a lot of sizzle with this STEC". The Register. Retrieved 2018-09-29.
  7. ↑ Huffstutter, P. J. (March 16, 2000). "Simple Technology IPO Planned With $57.5-Million Goal". Los Angeles Times. ISSN   0458-3035 . Retrieved September 29, 2018.
  8. 1 2 3 Press Release, February 12, 2007. “Fabrik Acquires SimpleTech’s Consumer Business Archived 2008-10-12 at the Wayback Machine ”. Retrieved on December 17, 2008.
  9. 1 2 3 Unknown author, August 12, 2008. “Deal Radar 2008: Fabrik.” sramana mitra. Retrieved on October 21, 2008. Retrieved on December 17, 2008.
  10. ↑ Keith Shaw, November 15, 2004. “Cool Tools.” Network World. Retrieved on January 16, 2009
  11. ↑ Om Malik, February 11, 2007. “Fabrik to buy SimpleTech, get big fast.” GigaOm. Retrieved on January 16, 2009.
  12. ↑ Company press release, January 28, 2008. “Fabrik Introduces Joggle at DEMO 08 Archived 2008-10-12 at the Wayback Machine .” Retrieved on October 21, 2008.
  13. ↑ Michael Miller, January 29, 2008. “Demo08: ‘We’re Not Just Conference Producers, We’re Consumers'." PC Magazine. Retrieved on October 21, 2008.
  14. ↑ Sean Captain, January 30, 2008. “Tech Startups Rock DEMO Conference.” Popular Science. Retrieved on October 21, 2008.
  15. ↑ Dan Farber, January 29, 2008. “Demo 08: Web apps for mere mortals.” ZDNet. Retrieved on October 21, 2008.
  16. ↑ Richard Martin, January 29, 2008. “At DEMO, Business Organization Becomes The Key.” InformationWeek. Retrieved on October 21, 2008.
  17. ↑ Marshall Kirkpatrick, July 10, 2006. “Fabrik media storage opens limited beta accounts today.” TechCrunch. Retrieved on December 17, 2008.
  18. ↑ Gerry Blackwell, October 22, 2008. “Green Backups: The SimpleTech [re]Drive Review.” Datamation. Retrieved on December 17, 2008.
  19. ↑ Malik, Om (February 11, 2007). "Fabrik to buy SimpleTech, get big fast". Gigaom . Retrieved September 29, 2018.
  20. ↑ "STEC Acquires Assets of InfoTech PVT LTD and establishes a strategic R&D presence in India" (PDF). Press release. April 19, 2011. Archived from the original (PDF) on December 11, 2011. Retrieved August 29, 2013.
  21. ↑ Alawadhi, Neha (September 18, 2012). "Stec CEO resigns after insider trading charges". Reuters. Retrieved September 29, 2018.
  22. ↑ Deagon, Brian (June 24, 2013). "Western Digital Acquires Solid State Drive Maker Stec". Investor's Business Daily. Retrieved September 29, 2018.
  23. ↑ Duncan Martell, February 11, 2007. “Fabrik buys consumer business of SimpleTech.” Reuters. Retrieved on January 16, 2009.
  24. 1 2 SimpleTech Website Archived 2006-01-26 at the Wayback Machine
  25. ↑ Ryan Block, April 9, 2008. “SimpleTech SimpleDrive: up to 1TB, Pininfarina design.” Enamengadget. Retrieved on December 17, 2008.
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