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Talk about being bold. Enterprise backup vendor ADIC bought nearly 10 percent of its rival Overland Storage's shares in October, sparking speculations of a merged entity that could put greater pressures on the competition.
ADIC jumped at the opportunity after learning that Overland had lost Hewlett-Packard's OEM deal. While Overland has gone on to reject the takeover bid, the move shows ADIC's appetite for growth.
ADIC, which counts IBM and StorageTek as competitors, also made a bid for the midrange tape market by launching in 2004 the Pathlight VX 2.0, a midlevel storage system that combines disk and tape in a single appliance, the Pathlight VX 2.0.
Since then, it has gone on to enhance these systems. In April, ADIC launched the Pathlight VX 450, a disk backup offering designed to provide midrange data centers with enterprise-level protection for their most critical data.
In doing so, ADIC now pits itself against vendors such Quantum and HP.
For fiscal year 2004, the company raked in US$454.8 million in revenue, a 7.3 percent growth over 2003. Not bad, considering that analysts expect the overall tape industry revenues to grow at only 1.3 percent year-on-year.
This makes ADIC one of the key storage players to watch in 2006.
Financials
| Fiscal year-end Oct |
FY05 |
FY04 |
FY03 |
FY02 |
FY01 |
Global full-year
revenue (US$millions) |
— |
454.8 |
424.0 |
337.6 |
364.7 |
Global full-year net
income (US$millions) |
— |
7.2 |
15.5 |
1.6 |
-10.8 |
| Average year-on-year revenue growth over 4 years |
8.5 % |
| Average year-on-year net income growth over 4 years |
310.0 % |
| Percentage of revenue from Asia |
— |
| Percentage of Asian revenues from channel |
100.0 % |
Operations:
| Founded |
United States/2001 |
| First Asian office |
Singapore/2002 |
| Global employees |
1,500 |
| Employees in Asia |
200 |
Asian countries:
Total 7 |
China, India, Indonesia, Malaysia, Philippines, Singapore, Thailand |
| Notes |
Data correct as at September 2005. Information was compiled by ZDNet Asia from sources such as official reports, corporate Web sites, and Hoover's. ZDNet Asia strived to get the latest information but does not guarantee the correctness or completeness of the data. The information provided on this site is for general informational purposes only and is not an offer to buy or sell any securities. |
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