ExcelStor Technology
Encyclopedia
Shenzhen
Shenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones...
, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, and an R&D center in Longmont, Colorado
Longmont, Colorado
Longmont is a Home Rule Municipality in Boulder and Weld counties in the U.S. state of Colorado. Longmont is located in Northern Colorado. Longmont is the 13th most populous city in the State of Colorado. The word "Longmont" comes from Longs Peak, a prominent mountain named for explorer Stephen H....
, USA. The company is partly owned by Shenzhen Kaifa Technology, of which the major share holder is China Great Wall Computer Group Co.
In 2002 ExcelStor signed a deal with IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
to manufacture and sell the 40GB version of IBM's Deskstar
Deskstar
The Deskstar is the name of a product line of computer hard drives. It was originally announced by IBM in October 1994. The line was continued by Hitachi when in 2003 it bought IBM's hard drive division and renamed it Hitachi Global Storage Technologies ....
120GXP series under the ExcelStor brand name. IBM was also to market these drives under its own brand name. In 2003, after Hitachi
Hitachi Global Storage Technologies
Hitachi Global Storage Technologies is a wholly owned subsidiary of Hitachi, Ltd., it is expected to be sold to Western Digital in third calendar quarter 2011. Hitachi GST developed hard disk drives, enterprise-class solid state drives, and external storage solutions and services used to store,...
took over IBM's storage division, the deal was extended to include 40GB and 80GB drives from Hitachi's Deskstar 7K250 series.
Since 2004 ExcelStor has manufactured some of Iomega
Iomega
Iomega is an American producer of consumer external, portable and networking storage hardware. Established in the 1980s, Iomega has sold more than 410 million digital storage drives and disks. On April 8, 2008, EMC Corporation announced its plans to acquire Iomega for a consideration of US $213M...
's products, including REV
Iomega REV
REV was a removable hard disk storage system from Iomega.The small removable cartridges store 35, 70, or 120 gigabytes and were based on hard-drive technology. Like a standard hard drive, the REV system used a flying head to read and write data to a spinning platter...
. In 2007 Iomega announced it would acquire ExcelStor in a stock swap
Stock swap
A stock swap, also known as a share swap, is a business takeover or acquisition in which the acquiring company uses its own stock to pay for the acquired company. Each shareholder of the newly acquired company receives a certain number of shares of the acquiring company's stock for each share of...
valued at approximately $315 million. The deal fell apart, however, with Iomega paying a termination fee of $7.5 million in 2008 as Iomega was being acquired by EMC Corporation
EMC Corporation
EMC Corporation , a Financial Times Global 500, Fortune 500 and S&P 500 company, develops, delivers and supports information infrastructure and virtual infrastructure hardware, software, and services. EMC is headquartered in Hopkinton, Massachusetts, USA.Former Intel executive Richard Egan and his...
.
In 2007 Excelstor laid off 20 of its 28 employees at its Longmont CO R&D Center.