Storage Technology Corporation

ORACLE Corporation (StorageTek)
Computer & Cloud Solutions
Industry Computer hardware, software
Founded 1969
Headquarters Oracle Parkway Redwood Shores, CA 94065
Key people

Safra A. Catz, CEO

Mark Hurd, CEO
Products data storage hardware and software, professional and support services
Revenue $2.2 billion USD (2004)
Number of employees
~7000 (2004)
Website http://www.oracle.com/us/products/servers-storage/storage/

Storage Technology Corporation (StorageTek or STK), aka STC until about 1983, is a data storage technology company with a focus on tape backup equipment and software to manage storage systems. New products include data retention systems, which they call information lifecycle management, or ILM. Now Owned by Oracle Corporation and referred to as Oracle StorageTek, StorageTek is headquartered in Redwood Shores, California, United States.

History

In 1969 four former IBM engineers: Jesse Aweida, Juan Rodriguez, Thomas S. Kavanagh, and Zoltan Herger, founded the Storage Technology Corporation, which officially became known as StorageTek in 1983. 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. New management invested in an automated tape library system that 'picked' tapes with a robot arm and stored them in a silo-like contraption in 1987.

StorageTek has acquired Documation (1980), Aspen Peripherals Corporation (1989), Network Systems Corporation (1995), and Storability (2005). On June 2, 2005, Sun Microsystems, Inc. announced it would purchase Storage Technology Corporation ("StorageTek") for US$4.1 billion in cash, or $37.00 per share.[1] On August 31, 2005, the acquisition was completed.

On January 27, 2010, Sun Microsystems, Inc. was acquired by Oracle Corporation for US$7.4 billion, based on an agreement signed on April 20, 2009.[2]

Product history

Storagetek library
Inside view of a Powderhorn library

Products

SL3000, SL8500, SL150

References

  1. "Buying StorageTek: Sun's last big gamble?". CNET News. 2 June 2005. Retrieved 21 June 2011.
  2. "Oracle Completes Acquisition of Sun". Yahoo. 27 January 2010. Retrieved 27 January 2010.

http://www.fundinguniverse.com/company-histories/storage-technology-corporation-history/

External links

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