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sTec, Inc.
IndustryComputer data storage
PredecessorSimple Technology
FoundedMarch 1990;34 years ago(1990-03)
DefunctJune 2013(2013-06)
FateAcquired byHGST,aWestern Digitalcompany
Headquarters
San Jose,California
,
USA
Number of locations
San Jose, Sunnyvale and Santa Ana, Calif., USA; China; Germany; India; Italy; Japan; Malaysia; Taiwan
ParentWestern Digital
Websitehgst.com

sTec, Inc.,was an Americancomputer data storagetechnology company headquartered inCalifornia.[1]It had research and development, sales, support and manufacturing sites inChina,India,Japan,Malaysia,Silicon Valley(USA), andTaiwan.

sTec, formerlySimple TechnologythenSimpleTech,was founded by Manouch Moshayedi and Mark Moshayedi in 1990. The company designs, develops and manufacturessolid-state drives(SSDs) based onflash memoryanddynamic random access memory(DRAM), providing them todata centerenvironments andoriginal equipment manufacturer(OEM) customers.[2]

Customers includeDell,EMC,Fujitsu,HP,andIBM.[2][3]sTec also has distributors, resellers and system integrators.

sTec was acquired byHGST,aWestern Digitalcompany. Western Digital completed the acquisition of sTec on September 12, 2013.

History

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Simple Technology

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Logo of Simple Technology used from 1990 to 2001
Logo of Simple Technology used from 1990 to 2001

In 1990,Simple Technologywas founded by two brothers fromIran: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 manufacturedflashsolid-state drives,dynamic random-access memory(DRAM), andstatic random-access memory(SRAM).[citation needed].

In 1994, Simple Technology boughtCirrus Logic’s flash controller operation, to enter theflash memorybusiness 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,SDRAMmodules and also 320 MB Type IICompactFlash.[citation needed]

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

SimpleTech

[edit]
Logo of Simple Technology used from 2001 to 2007
Logo of Simple Technology used from 2001 to 2007

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

The SimpleShare consumernetwork attached storagedevice 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 toFabrik 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.comwebsiteand the environmentally friendly [re]drive introduced in 2008.[12][13][14][15][16][17][18]

Fabrik was acquired byHitachiin 2009 for an estimated $950 million.[citation needed]

sTec

[edit]
Logo of STEC, Inc., from 2007 to 2013
Logo of STEC, Inc., from 2007 to 2013

Following the 2007 sale, the remaining OEM business then operated asSTEC, Inc.(later stylized as sTec, Inc.), and was publicly traded onNASDAQuntil 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 announcingEMC Corporationas 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 inPune,India.[20]

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

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

Products

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NAND Flash controller

SimpleTech is a consumer brand of externalhard drivesandbackupproducts owned byFabrik Inc.and designed to integratecomputer hardware,software,andonline servicesto 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 includedflash memorycards,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 andcontent managementsoftware andweb 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 theFerraridesign teamPininfarina.[24][8][9][25]

References

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  1. ^Bloomberg BusinessWeek. “STEC Profile.”September 20, 2010.
  2. ^abBy Beth Pariseau, SearchStorage. “STEC Inc. CTO looks at the future of flash and solid-state drives.”August 17, 2009.
  3. ^abBy 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. ^abcChris Mellor, June 17, 2008. “There's a lot of sizzle with this STEC.”The Register. Retrieved on December 17, 2008.
  6. ^abcdeMellor, Chris (June 17, 2008)."There's a lot of sizzle with this STEC".The Register.Retrieved2018-09-29.
  7. ^Huffstutter, P. J. (March 16, 2000)."Simple Technology IPO Planned With $57.5-Million Goal".Los Angeles Times.ISSN0458-3035.RetrievedSeptember 29,2018.
  8. ^abcPress Release, February 12, 2007. “Fabrik Acquires SimpleTech’s Consumer BusinessArchived2008-10-12 at theWayback Machine”.Retrieved on December 17, 2008.
  9. ^abcUnknown 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 08Archived2008-10-12 at theWayback 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.RetrievedSeptember 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 fromthe original(PDF)on December 11, 2011.RetrievedAugust 29,2013.
  21. ^Alawadhi, Neha (September 18, 2012)."Stec CEO resigns after insider trading charges".Reuters.RetrievedSeptember 29,2018.
  22. ^Deagon, Brian (June 24, 2013)."Western Digital Acquires Solid State Drive Maker Stec".Investor's Business Daily.RetrievedSeptember 29,2018.
  23. ^Duncan Martell, February 11, 2007. “Fabrik buys consumer business of SimpleTech.”Reuters. Retrieved on January 16, 2009.
  24. ^abSimpleTech WebsiteArchived2006-01-26 at theWayback Machine
  25. ^Ryan Block, April 9, 2008. “SimpleTech SimpleDrive: up to 1TB, Pininfarina design.”Enamengadget. Retrieved on December 17, 2008.
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