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Encyclopedia > Maxtor
Maxtor Corporation
Type Subsidiary
Founded 1982
Headquarters Maxtor Corporation, 500 McCarthy Boulevard, Milpitas, CA 95035 U.S.
Key people James McCoy, Jack Swartz, and Raymond Niedzwiecki (founders)
Products Hard disks
Parent Seagate Technology
Website www.maxtor.com

Maxtor Corporation was an American manufacturer of computer hard disk drives founded in 1982 and acquired by Seagate in 2006. As of December 2005, just prior to the acquisition, Maxtor was the world's third-largest manufacturer of hard disks. It now operates as a subsidiary of Seagate. [1] Maxtor Corporation logo This is a copyrighted and/or trademarked logo. ... A subsidiary, in business, is an entity that is controlled by another entity. ... Milpitas is a city in Santa Clara County, California. ... Motto: (Out Of Many, One) (traditional) In God We Trust (1956 to date) Anthem: The Star-Spangled Banner Capital Washington D.C. Largest city New York City None at federal level (English de facto) Government Federal constitutional republic  - President George Walker Bush (R)  - Vice President Dick Cheney (R) Independence from... Typical hard drives of the mid-1990s. ... A holding company is a company that owns part, all, or a majority of other companies outstanding stock. ... Seagate Technology (NYSE: STX) is a major American manufacturer of hard drives, founded in 1979 and based in Scotts Valley, California. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... Typical hard drives of the mid-1990s. ... Seagate Technology (NYSE: STX) is a major American manufacturer of hard drives, founded in 1979 and based in Scotts Valley, California. ...


Maxtor targeted both the server and desktop market, concentrating on disk capacity more than disk speed for desktops.

Contents

History

Overview

  • 1981 - Initial search for funding.
  • 1983 - First product.
  • 1985 - Initial public offering.
  • 1990 - Acquired MiniScribe, another hard disk manufacturer.
  • 1992 - Near bankruptcy.
  • 1993 - Closed San Jose, California engineering operations.
  • 1996 - Introduced DiamondMax line of DSP based disks.
  • 2000 - Purchased Quantum's hard disk line of business.
  • 2006 - Acquired by Seagate.

“IPO” redirects here. ... MiniScribe was a manufacturer of disk storage products, founded in Longmont, Colorado in 1980. ... For other uses, see San José. Nickname: Location of San Jose within Santa Clara County, California. ... Quantum Corporation is a manufacturer of tape drive products, based in San Jose, California. ...

Early financing

A Maxtor 60 GB hard drive
A Maxtor 60 GB hard drive

The Maxtor founders, James McCoy, Jack Swartz, and Raymond Niedzwiecki, began the search for funding in 1981. The founders are all ex-employees of IBM and graduated from the San Jose State School of Engineering. In early 1982, B.J. Cassin and Chuck Hazel (Bay Partners) provided the initial $3 million funding and the company officially began operations on July 1, 1982. It shipped its first product in February of 1983 to Convergent Technology and immediately received an additional $5.5 million in its second round of funding. The company also began negotiations with the EDB (Economic Development Board) of Singapore for favorable terms before committing to Singapore as its offshore manufacturing location. The DBS (Development Bank of Singapore) agreed to provide financing to help grow the company in Singapore. In 1983, the company established a liaison and procurement office in Tokyo, headed by Tatsuya Yamamoto. Image File history File links Metadata Size of this preview: 539 × 599 pixelsFull resolution (1796 × 1996 pixel, file size: 460 KB, MIME type: image/jpeg) File historyClick on a date/time to view the file as it appeared at that time. ... Image File history File links Metadata Size of this preview: 539 × 599 pixelsFull resolution (1796 × 1996 pixel, file size: 460 KB, MIME type: image/jpeg) File historyClick on a date/time to view the file as it appeared at that time. ...


Maxtor's product architecture used eight disks; 15 surfaces recorded data and the final surface was where the servo track information was located. The company developed its own spindle motor which was fitted within the casting containing the disks. This was a major departure, the motor usually being mounted external to the disks. The first product was designed to provide 190 MB of storage, but delays in getting magnetic heads to the Maxtor design resulted in the company taking what was available and the first drives were shipped with a capacity of only 140 MB. The company received an additional round of financing of approximately $37 million in 1984 before going public in 1985, with Goldman Sachs as the prime underwriter.


MiniScribe acquisition

In 1990 Maxtor entered the mass market with its purchase of the assets (but not the liabilities) of bankrupt MiniScribe in Longmont, Colorado [2]. The transition was a tough one, with the early products of this union (notably the 7120 3.5-inch 120 MB drive) having many quality and design problems. Later products managed to sell well despite the initial problems, and in 1996 the company completely redesigned its drive lines, introducing the Texas Instruments DSP-based DiamondMax series. The City of Longmont is a home rule municipality located in Boulder County and Weld County, Colorado, United States. ... Texas Instruments (NYSE: TXN), better known in the electronics industry (and popularly) as TI, is an American company based in Dallas, Texas, USA, renowned for developing and commercializing semiconductor and computer technology. ... A digital signal processor (DSP) is a specialized microprocessor designed specifically for digital signal processing, generally in real-time. ...


Financial troubles

After nine years of development, the original XT-series of drives had achieved a capacity of 1 GB. Maxtor sold the rights to the series to a company called Sequel in the mid-1990s, thus exiting the server SCSI drive market. Sequel was not a disk drive manufacturer; rather they specialized in refurbishing drives for the existing customer base. Teetering on the brink of bankruptcy in 1992, Maxtor's exit from the high capacity 5.25-inch SCSI market temporarily left a product void in the industry. Around this time, SCSI versions of the 7000 series drives were also discontinued and all engineering operations in San Jose were shut down in late 1993, leaving only the former MiniScribe design engineering staff. After turnover in the executive staff, Maxtor decided it had made a mistake, and having moved its headquarters to nearby Milpitas, gradually began rebuilding its Silicon Valley engineering staff. Scuzzy redirects here. ... Location in Santa Clara County and the state of California Country State County Santa Clara Government  - Mayor Jose Joe Esteves Area  - City 13. ... For the Nintendo 64 game, see Space Station Silicon Valley. ...


Quantum hard drives acquisition

In 2000, Maxtor purchased Quantum's hard drive business. This move made them larger than their rivals (notably Seagate), and also returned them to the server-SCSI market.[3]

A Maxtor OneTouch III Mini Edition drive
A Maxtor OneTouch III Mini Edition drive

Image File history File links Metadata Size of this preview: 522 × 599 pixelsFull resolution (2164 × 2484 pixel, file size: 569 KB, MIME type: image/jpeg) File historyClick on a date/time to view the file as it appeared at that time. ... Image File history File links Metadata Size of this preview: 522 × 599 pixelsFull resolution (2164 × 2484 pixel, file size: 569 KB, MIME type: image/jpeg) File historyClick on a date/time to view the file as it appeared at that time. ...

Current situation

Maxtor, in recent years, like many other hard drive makers, had been expanding into the external hard disk market, with the Maxtor One-Touch II personal hard drive, which is marketed as convenient external storage for the home user.


Maxtor had initially made efforts to get into the 2.5-inch hard disk market (notebook computer format) but, in the beginning of 2005, new management made the surprising decision to discontinue development in this field. This was considered by many industry watchers[attribution needed] to be a particularly peculiar move, since the market for such hard drives (mainly notebook computers and MP3 players) was already experiencing rapid growth, with no signs of slowing down in the foreseeable future. For the band, see Laptop (band). ... A digital audio player (DAP) is a device that stores, organizes and plays digital music files. ...


In a deal worth US$1.9 billion, Maxtor was acquired by its rival Seagate in 2006. It is now used as a Seagate brand.


References

  1. ^ Article from Seagate
  2. ^ MiniScribe assets acquisition
  3. ^ Article from CRN

External links

Other resources


  Results from FactBites:
 
Maxtor - definition of Maxtor in Encyclopedia (251 words)
Maxtor Corporation (NYSE:MXO (http://www.nyse.com/about/listed/lcddata.html?ticker=MXO)) is one of the world's largest manufacturers of computer hard disks.
Maxtor sold the rights to their original "XT"-series drives to a company called Sequel in the mid-1990s, thus exiting the server SCSI drive market; around this time, SCSI versions of the 7000 series drives were also discontinued.
Maxtor in recent years have been expanding into the external hard disk market, such as the Maxtor One-Touch II personal hard drive that is marketed to be convenient external storage for the home user.
Maxtor Corporation - Wikipedia, the free encyclopedia (364 words)
Maxtor Corporation NYSE: MXO is one of the world's largest manufacturers of computer hard disks.
Maxtor, in recent years, like many other hard drive makers, has been expanding into the external hard disk market, such as the Maxtor One-Touch II personal hard drive that is marketed to be convenient external storage for the home user.
Maxtor had initially made efforts to step into the 2.5" (notebook format) hard disk market, but in the beginning of 2005, new management made the surprising decision to discontinue development in this field.
  More results at FactBites »

 
 

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