In this article, we will explore the topic of Storage Technology Corporation in detail, providing an in-depth analysis ranging from its origins to its relevance today. We will delve into the different aspects surrounding Storage Technology Corporation, offering a comprehensive vision that allows our readers to deeply understand its importance and implications in different areas. Through research, data and testimonies, we seek to shed light on Storage Technology Corporation and its impact on society, culture, economics, politics and other relevant fields. What factors have contributed to the evolution of Storage Technology Corporation over time? What are the main challenges you currently face? What are the possible future implications of Storage Technology Corporation? These are some of the questions that we will address in this article, with the aim of providing a complete and enriching vision of this topic. Join us on this tour of Storage Technology Corporation and discover everything there is to know about this fascinating topic!
Company type | Public |
---|---|
NYSE: STK | |
Industry | Computer hardware, software |
Founded | 1969 |
Founders | Jesse Aweida, Juan Rodriguez, Thomas S. Kavanagh, Zoltan Herger |
Defunct | August 2005 |
Fate | Acquired by Sun Microsystems, which was later acquired by Oracle Corporation |
Headquarters | Louisville, Colorado |
Products | Data storage hardware and software, professional and support services |
Revenue | $2.2 billion USD (2004) |
Number of employees | ~7,000 (2004) |
Website | oracle |
Storage Technology Corporation (StorageTek or STK, earlier STC) was a data storage technology company headquartered in Louisville, Colorado. New products include data retention systems, which it calls "information lifecycle management" (ILM).
Its remaining product line is now part of Oracle Corporation, and marketed as Oracle StorageTek, with a focus on tape backup equipment and software to manage storage systems.
In 1969 four former IBM engineers—Jesse Aweida, Juan Rodriguez, Thomas S. Kavanagh, and Zoltan Herger—founded the Storage Technology Corporation. The headquarters was in Louisville, Boulder County, Colorado.
In the 1970s, StorageTek launched its Disk Products division. After a failed attempt to develop an IBM-compatible mainframe, and an optical disk product line, the company filed for Chapter 11 bankruptcy protection in 1984. Starting in 1987, new management invested in an automated tape library product line that "picked" tapes from a silo-like contraption with a robot arm. StorageTek emerged as a dominant player in that market.
StorageTek acquired Documation (1980), Aspen Peripherals Corporation (1989), Network Systems Corporation (1995), and Storability (2005).
Storage Technology Corporation was officially renamed "StorageTek" in 1983.
In June 2005, Sun Microsystems, Inc. announced it would purchase StorageTek for US$4.1 billion in cash, or $37.00 per share. In August 2005, the acquisition was completed.
On January 27, 2010, Sun was acquired by Oracle Corporation for US$7.4 billion. The StorageTek product line was renamed "Oracle StorageTek".
In terms of revenue market share, Freeman Reports places StorageTek, which is now owned by Sun, in the lead with 38 percent.