When it comes to gobbling up small companies and jumping into new markets, few storage vendors have been as aggressive as Adaptec Inc. (Nasdaq: ADPT).
In the past two years alone, Adaptec acquired virtualization software company Elipsan, storage subsystem manufacturer Eurologic Systems, RAID component vendor ICP Vortex, and NAS vendor Snap Appliance Inc. for a total bill of more than $150 million. (See Adaptec Gets Virtual With Elipsan, Adaptec Adopts Eurologic, Adaptec RAIDs Old Europe, and Adaptec's $100M Snap Decision.)
Thanks in part to all this, Adaptec was among the first to deliver SATA and iSCSI products, along with its OEM Fibre Channel arrays. It's now got a wide offering of storage products, and it put together several solid earnings quarters until hitting a bit of a roadblock in its most recenet quiarter(see Adaptec Takes Action,Adaptec Posts Q4 Profit and Adaptec Wants Channel Change).
So what's next? That's what we recently asked Adaptec VP of Business Strategy Mark Delsman when we spoke with him to get an update on new technologies, acquisitions, and where Adaptec is going in storage.
The geeky Delsman, who joined Adaptec seven years ago after stints at Maxtor Corp. (NYSE: MXO), Seagate Technology Inc. (NYSE: STX), and other storage companies, enthusiastically talked about transitions his company's making into new technologies and relationships through acquisitions or OEM deals. Some of these have gone well: Adaptec's SATA drives, for instance, have found their market niche. Other changes haven't gone as smoothly: While Adaptec is considered an early leader in IP SANs, it's waiting, along with iSCSI startups such as EqualLogic Inc. and LeftHand Networks Inc., for the market to materialize.