 Logo until 2009 | |
| Company type | Public |
|---|---|
| NYSE: STK | |
| Industry | Computer hardware,software |
| Founded | 1969; 56 years ago (1969) |
| Founders | Jesse Aweida, Juan Rodriguez, Thomas S. Kavanagh, Zoltan Herger |
| Defunct | August 2005 (2005-08) |
| Fate | Acquired bySun Microsystems, which was later acquired byOracle Corporation |
| Headquarters | Louisville, Colorado |
| Products | Data storage hardware and software, professional and support services |
| Revenue | $2.2 billionUSD (2004) |
Number of employees | ~7,000 (2004) |
| Website | oracle |
Storage Technology Corporation (StorageTek orSTK, earlierSTC) was adata storage technology company headquartered inLouisville, Colorado.[1] New products includedata retention systems, which it calls "information lifecycle management" (ILM).
Its remaining product line is now part ofOracle Corporation, and marketed asOracle StorageTek, with a focus ontape backup equipment andsoftware to manage storage systems.
In 1969 four formerIBM engineers—Jesse Aweida, Juan Rodriguez, Thomas S. Kavanagh, andZoltan 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 forChapter 11 bankruptcy protection in 1984. Starting in 1987, new management invested in anautomated 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 acquiredDocumation (1980),Aspen Peripherals Corporation (1989),Network Systems Corporation (1995), andStorability (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.[3] In August 2005, the acquisition was completed.
On January 27, 2010,Sun was acquired by Oracle Corporation for US$7.4 billion.[4] 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.
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