ADIC Announces Two-for-one STock Split; Record Date Set for July 30.REDMOND, Wash.--(BUSINESS WIRE)--July 20, 1999-- Advanced Digital Information Corporation (Nasdaq:ADIC) today announced that its Board of Directors had approved a two-for-one split of the Company's issued and outstanding common stock. The stock split will be implemented as a 100 percent stock dividend payable on August 11, 1999 to shareholders of record as of July 30. On August 11, shareholders will be entitled to receive one additional share for every share they own on the record date. Following the payment date, ADIC will have approximately 20 million shares outstanding. With more than 45,000 automated tape libraries installed as well as a suite of innovative software solutions and Storage Area Networking (SAN) products, ADIC is a leading global provider in the growing market to manage and protect information in computer networks. Marketed under ADIC, ADIC/GRAU and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and partner brands, including Dell, Exabyte and Unisys, the Company's automated tape libraries are available with DLTtape(TM), D2, half-inch, AIT, 4mm and 8mm tape technologies and are supported by leading backup and storage management software products for Windows NT, UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). and MVS (Multiple Virtual Storage) Introduced in 1974, the primary operating system used with IBM mainframes (the others are VM and DOS/VSE). MVS is a batch processing-oriented operating system that manages large amounts of memory and disk space. operating systems. The Company announced its selection as an OEM supplier to IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) on May 26, 1999. ADIC's own storage management tools include AMASS (Archive Management And Storage System) Tape management software for Unix from Quantum Corporation, Colorado Springs, CO (www.quantum.com). Originally developed by ADIC, AMASS makes the tape library look like an infinite disk drive to the application. (TM) direct data access software which provides network users shared access to information stored in automated libraries. A pioneer in marketing products for Storage Area Networks, ADIC offers Fibre Channel routers and tape libraries with direct Fibre Channel connectivity. Further product information is available via the Internet at http://www.adic.com. ADIC, FastStor, Scalar and AMASS are trademarks of Advanced Digital Information Corporation. 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. is a trademark of Quantum Corporation. All other product or company names should be considered the property of their owners. |
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