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History (1998): Ampex Buys MicroNet for $12.5 Million

To enter into RAID subsystems

Ampex, at one time a HDD manufacturer, has indirectly come back to its earlier activity, through MicroNet Technology with the signing of a letter of intent to acquire the latter firm.

Ampex, in fact, is particularly interested in MicroNet’s expertise in the area of RAID for the video market.

The company will pay approximately $12.5 million, excluding the issue of 700,000 Class A common shares to MicroNet’s shareholders, to obtain a company which had 1997 revenue of roughly $30 million. MicroNet was involved for a long time in storage subsystems for Apple computers, before evolving towards Unix and Windows NT environments.

This article is an abstract of news published on issue 124 on May 1998 from the former paper version of Computer Data Storage Newsletter.

Note: Ampex Data Systems Corporation is a now wholly-owned subsidiary of Delta Information Systems. Inc. and is involved in in high-capacity, high-performance storage systems capable of functioning in demanding environments on land, at sea, or in the air.

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