Adaptec Closes Agreement with Cogent Data Technologies.MILPITAS, Calif.--(BUSINESS WIRE)--Sept. 20, 1996--Adaptec, Inc. announced today that it has completed its previously announced acquisition of Cogent COGENT - COmpiler and GENeralized Translator Data Technologies, Inc. of Friday Harbor, Wash. in a $65 million stock transaction. The transaction will be accounted for under the pooling method of accounting and Adaptec has issued 1,343,540 shares to Cogent's shareholders. In addition, a one-time charge for transaction related expenses of approximately $1.7 million or $0.03 per share will be recorded during the Company's second fiscal quarter, ending Sept. 27, 1996. 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 over 2500 people worldwide in design, manufacturing, sales, service and distribution. Adaptec s home page address is http://www.adaptec.com. Cogent's home page address is http://www.cogentdata.com. CONTACT: Adaptec, Inc. Paul G. Hansen/Christopher G. O'Meara/Bruce Frymire, 408/945-8600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion