ADIC ANNOUNCES MOVE TO LARGER QUARTERS TO ACCOMMODATE GROWTH RATE, NEW PRODUCT LINES.REDMOND, Wash.--(BUSINESS WIRE)--Aug. 16, 1995--ADIC today announced that on August 21 it will move its corporate headquarters to a larger facility in Redmond, Washington to keep pace with the company's growth and allow for future expansion. The move, which will increase the available space by 50% to approximately 41,000 square feet, will bring manufacturing operations, corporate sales and marketing, and engineering into a single facility. The new location is part of a corporate campus which also includes the corporate headquarters and microelectronics division of Interpoint, ADIC's parent company. Chuck Stonecipher, ADIC General Manager, explained that "The move provides ADIC with more space for corporate offices and room to expand manufacturing operations to accommodate rapid growth of our automated tape libraries, both for our existing and our new products." The move is taking place on the heels of Interpoint's reporting of record revenues and earnings in its third quarter, fueled partly by the performance of ADIC's $8.5 million in sales. ADIC, which expects 1995 revenue growth at greater than 40%, designs and manufactures automated tape libraries used by computer networks to store data. "The division's growth," Stonecipher explained, "has been in response to the world-wide growth in network computing, the explosion of data on networks--estimated at a 60% annual growth rate, and on the value that companies place on that data. We are benefiting from the platform design of our products which allows us to quickly adapt them as new technologies are developed. Products originally designed for standard Digital Audio Tape See DAT. (storage, music) Digital Audio Tape - (DAT) A format for storing music on magnetic tape, developed in the mid-1980s by Sony and Philips. As digital music was popularized by compact discs, the need for a digital recording format for the consumer existed. (DAT (1) (Dynamic Address Translator) A hardware circuit that converts a virtual memory address into a real address. See also DAT file. (2) (Digital Audio Tape) A magnetic tape technology used for backing up data. ) have been quickly converted to take advantage of a market window for the higher speed and capacity of other drive technologies, including Digital Linear Tape (storage) Digital Linear Tape - (DLT) A kind of magnetic tape drive originally developed by DEC and now marketed by Quantum. DLT drives implement the Digital Lempel Ziv 1 (DLZ1) compression algorithm in a combination of hardware and firmware. (DLT (Digital Linear Tape) A magnetic tape technology originally developed by Digital for its VAX line. The technology was later sold to Quantum, which makes it available to other manufacturers. DLT uses half-inch, single-hub cartridges similar to IBM's 3480/3490/3590 line. )." ADIC has been providing storage solutions since its founding in 1983. It is the leading drive-independent supplier of automated tape storage libraries for client-server networks with over 10,000 units in the field. ADIC products are available with 4mm (DAT), 8mm, and DLT drive technology, and are supported by every leading supplier of backup and HSM (1) (Hierarchical Storage Management) The automatic movement of files from hard disk to slower, less-expensive storage media. The typical hierarchy is from magnetic disk to optical disc to tape. software products in all leading operating systems. ADIC is a wholly-owned subsidiary of Interpoint Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :INTP INTP Introverted Intuitive Thinking Perceiving (Myers-Briggs personality type indicator) ) with headquarters in Redmond, Washington. CONTACT: ADIC Stephen Whitner, 206/881-8004, ext 435 Kari Matheny, 206/881-8004, ext 432 |
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