Adaptec Announces Acquisition Charges.MILPITAS, Calif.--(BUSINESS WIRE)--July 2, 1998--Adaptec Inc. has completed its preliminary evaluations of the allocation of the purchase price to the assets acquired for its acquisitions of Ridge Technologies Inc. and certain technologies from Analog Devices Analog Devices (NYSE: ADI) is an American multinational producer of semiconductor devices. Analog specializes in ADC, DAC, MEMS, and DSP chips for consumer and industrial goods. Analog is presently designing circuits in the 65 nanometer to 3 µm process feature sizes range. Inc. Under the purchase accounting method, aggregate one-time after-tax charges of $65-70 million impacting earnings by $0.55-$0.60 per share will be recorded in the company's first fiscal quarter, ending July 3, 1998, for the in-process research and development acquired. About Adaptec Adaptec provides bandwidth management Controlling the traffic flow in a network. See bandwidth manager. technologies for organizations building the global information infrastructure. Its high performance I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output. I/O - Input/Output , connectivity, and network products are incorporated into the systems and products of major computer and peripheral manufacturers. Founded in 1981 and headquartered in Milpitas, Calif., Adaptec (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 :ADPT ADPT Automated Data Processing/Telecommunications ADPT Adaptec Corporation (stock symbol) ADPT Adaptive Prediction ADPT Auger Depth Profiling Technique ADPT Automated Data Processing Telecommunications ADPT Adapter ) employs people worldwide in design, manufacturing, sales, service and distribution. Adaptec's home page is http://www.adaptec.com.
CONTACT: Adaptec Inc.
Paul G. Hansen, 408/945-8600
Christopher G. O'Meara, 408/945-8600
Adam Trunkey, 408/945-8600
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion