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November 24, 1998

ADAPTEC SELLS OFF PERIPHERAL CHIP BUSINESS TO ST

By CBR Staff Writer

Adaptec Inc’s great sell-off continued yesterday as its Peripheral Technology Solutions division went to STMicroelectronics Inc – the former SGS-Thomson Microelectronics – for $73m in cash. The unit designs semiconductors for the disk storage market. ST, which Adaptec said has the scale to win in this marketplace, takes on Adaptec’s expertise and its high performance disk controller ICs. The deal is expected to close in January 1999. Milpitas, California-based Adaptec, which now plans to concentrate on its core RAID and SCSI business, says it recently signed a co-development agreement with Dell Computer Corp to develop new 64-bit PCI RAID controller technology that will be used to improve the I/O performance of network servers.

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