Adaptec Changes Its Name to ADPT
Since June 22
This is a Press Release edited by StorageNewsletter.com on June 28, 2010 at 2:47 pmAdaptec, Inc. has changed its name to ADPT Corporation. The name change was effective on June 22, 2010.
The Company’s capital stock will not be affected by this name change. The Company’s stockholders will not be required to exchange their Adaptec, Inc. stock certificates for ADPT Corporation stock certificates. Adaptec stock certificates will continue to represent shares of stock of the Company.
Comments
No reason was given to this change. New web site is www.adptco.com.
The name of Adaptec was largely known in the storage world as an
excellent specialist of RAIDs and HBAs.
After selling recently its RAID channel business to PMC-Sierra for $34
million in cash, it confirms our opinion following the acquisition of
Adaptec by Steel Partners, a privately-owned hedge fund sponsor: "Being
the main shareholder of Adaptec, it took the rein of the company after a
long battle, not to pursue its activity, but for a single financial
purpose: selling it."
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