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Xiotech Buys Seagate ASA

EDEN PRAIRIE, Minn. -- Xiotech(R) Corporation announced today it has acquired Seagate Technology's(R) (NYSE:STX) Advanced Storage Architecture (ASA) group. In the acquisition, Xiotech purchased certain assets of the ASA business and acquired a license to the associated technology.

Dr. Ellen Lary will serve as the vice president and general manager of this team. Dr. Lary, who most recently was a consultant to the Seagate ASA group, became vice president and general manager of Digital Equipment's Storage Product Division in 1996, where she grew the business to $1.9 billion in revenue. After Compaq's acquisition of Digital, she was appointed vice president of Business Critical Storage for Compaq.

Steve Sicola, general manager of the Seagate ASA group, will serve as the chief technology officer for Xiotech. Mr. Sicola has more than 29 years in the storage industry, was a Compaq Fellow, and was chief technology officer of StorageWorks at Compaq and Digital.

"We think that the ASA technology will in time transform the market's perceptions about storage capacity, performance and reliability," said Casey Powell, president and CEO, Xiotech. "In time, we expect the ASA group to provide significant additional revenue to Xiotech."

Xiotech Corp.