Adaptec 2001 Annual Report Download - page 66

Download and view the complete annual report

Please find page 66 of the 2001 Adaptec annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 93

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93

66
The historical results of operations of the Company and Abrizio for the periods prior to the
merger were as follows:
Purchase Combinations:
Fiscal 2000
Octera Corporation.
On December 12, 2000, the Company completed the purchase of Octera Corporation, a
privately held company located in San Diego, CA, that provided digital design services for
Application Specific Integrated Circuits ("ASICs"), boards and systems with its primary focus
on ASIC design. The Company paid cash and issued common stock with an aggregate fair
value of approximately $16 million to effect this transaction.
Datum Telegraphic, Inc.
On July 21, 2000, the Company completed the purchase of the 92% interest of Datum
Telegraphic, Inc. that it did not already own in exchange for the issuance of approximately
681,000 exchangeable shares (see Note 10) and options with a fair value of $107.4 million, cash
of $17 million and acquisition related expenditures of $875,000. Datum, a wireless
semiconductor company located in Vancouver, Canada, made digital signal processors that
allow traffic for all major digital wireless standards to be transmitted using a single digitally
controlled power amplifier architecture.
Malleable Technologies, Inc.
On June 27, 2000, the Company exercised an option to acquire the 85% interest of Malleable
Technologies, Inc. that it did not already own in exchange for the issuance of approximately
1,250,000 common shares and 443,000 options and warrants with a fair value totaling $293
million and acquisition related costs of $825,000. Malleable, a fabless semiconductor company
located in San Jose, CA, made digital signal processors for voice-over-packet processing
Six Months
Ended June 30,
(in thousands) 1999
Net revenues
PMC 109,426$
Abrizio 850
Combined 110,276$
Net income (loss)
PMC 51,715$
Abrizio (3,670)
Combined 48,045$