Adaptec Inc, Milpitas disk controller maker has acquired privately-held Power I/O Corp of Irvine, California for $7m in cash – and part of the attraction was founder and chief executive Bob Stephens, one-time president and chief executive of Emulex Corp, who will fill the vacant post of president and chief operating officer of Adaptec. Power I/O, founded in 1993, develops high-speed input-output and networking technologies for 1Gbps Fibre Channel using Hewlett-Packard Co’s Tachyon technology.