StorageTek
(Storage Technology Corporation)
Company typePublic
NYSE: STK
IndustryComputer hardware, software
Founded1969; 55 years ago (1969)
FoundersJesse Aweida, Juan Rodriguez, Thomas S. Kavanagh, Zoltan Herger
DefunctAugust 2005 (2005-08)
FateAcquired by Sun Microsystems, which was later acquired by Oracle Corporation
HeadquartersLouisville, Colorado
ProductsData storage hardware and software, professional and support services
Revenue$2.2 billion USD (2004)
Number of employees
~7,000 (2004)
Websiteoracle.com/storage/tape-storage/

Storage Technology Corporation (StorageTek or STK, earlier STC) was a data storage technology company headquartered in Louisville, Colorado.[1] 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.

History

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.[2]

StorageTek acquired Documation (1980), Aspen Peripherals Corporation (1989), Network Systems Corporation (1995), and Storability (2005).

Storage Technology Corporation was officially renamed "StorageTek" in 1983.

StorageTek CD-ROM containing the sales toolkit for SVA (Shared Virtual Array) hardware - July 2000

Sun Microsystems

Logo for Sun StorageTek products used prior to Oracle acquisition

In June 2005, Sun Microsystems, Inc. announced it would purchase StorageTek for US$4.1 billion in cash, or $37.00 per share.[3] In August 2005, the acquisition was completed.

Oracle

Logo for Oracle StorageTek products used after Oracle acquisition

On January 27, 2010, Sun was acquired by Oracle Corporation for US$7.4 billion.[4] The StorageTek product line was renamed "Oracle StorageTek".

Products

Product timeline

Storagetek library
Inside view of a Powderhorn library

References

  1. ^ Fundinguniverse.com: History of Storage Technology Corporation
  2. ^ Drew Robb (2005-12-29). "Tape Libraries Keep Stocking Shelves". Enterprise Storage. eWeek. Retrieved 2019-07-19. In terms of revenue market share, Freeman Reports places StorageTek, which is now owned by Sun, in the lead with 38 percent.
  3. ^ "Buying StorageTek: Sun's last big gamble?". CNET News. 2 June 2005. Retrieved 21 June 2011.
  4. ^ "Oracle Completes Acquisition of Sun Microsystems". Associated Press. 27 January 2010. Retrieved 2019-07-19.

External links

Hard disk drive manufacturers
Oracle Corporation
Authority control databases
Categories