Number of employees ~7000 (2004) Acquisition date August 2005 | Founded 1969 Parent organization Sun Microsystems | |
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Type Computer & Cloud Solutions Industry Computer hardware, software Products data storage hardware and software, professional and support services Revenue $2.2 billion USD (2004) Headquarters Louisville, Colorado, United States Key people Safra A. Catz, Mark V. Hurd | ||
Storage Technology Corporation (StorageTek or STK; a.k.a. STC until about 1983), is a data storage technology company headquartered in Redwood Shores, San Francisco Bay Area, California.
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Now owned by Oracle Corporation, it has been renamed Oracle StorageTek.
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. , StorageTek is
History
In 1969 four former IBM engineers: Jesse Aweida, Juan Rodriguez, Thomas S. Kavanagh, and Zoltan Herger, founded the Storage Technology Corporation.
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 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 Microsystems, Inc. was acquired by Oracle Corporation for US$7.4 billion, based on an agreement signed on April 20, 2009. It was renamed Oracle StorageTek.