To broaden its RAID market reach, Adaptec Inc. signed a letter of intent to purchase Distributed Processing Technology (DPT) for $235 million. The purchase price includes cash for outstanding DPT shares and assumption of DPT’s stock option plan. DPT supplies high-performance storage solutions and products including RAID controllers, storage subsystems, and management software. “The combined forces of Adaptec and DPT should offer us revenue and market growth opportunities,” says Bob Schultz, Adaptec chief operating officer. “DPT brings tremendous experience in the RAID market, broadens our customer base into UNIX, and enhances our complementary customer relationships.” Adaptec will support existing products and focus on meeting customer obligations and commitments. Long-term, Adaptec will merge the companies’ product lines to create RAID storage solutions.
