-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NtPsBXDVX/GKBRBnm0wTH1+oCLHWS+IkVx5n7kOF/uIJUuTHJie0hT453oGJkOw9 64n4YGYs0ntSOPg/FX6tBQ== 0000892569-00-000058.txt : 20000202 0000892569-00-000058.hdr.sgml : 20000202 ACCESSION NUMBER: 0000892569-00-000058 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000110 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QLOGIC CORP CENTRAL INDEX KEY: 0000918386 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 330537669 STATE OF INCORPORATION: DE FISCAL YEAR END: 0328 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-23298 FILM NUMBER: 506712 BUSINESS ADDRESS: STREET 1: 3545 HARBOR BLVD CITY: COSTA MESA STATE: CA ZIP: 92626 BUSINESS PHONE: 7144382200 MAIL ADDRESS: STREET 1: 3545 HARBOR BOULEVARD CITY: COSTA MESA STATE: CA ZIP: 92626 FORMER COMPANY: FORMER CONFORMED NAME: Q LOGIC CORP DATE OF NAME CHANGE: 19940201 8-K 1 FORM 8-K DATED 1/10/00 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) January 10, 2000 QLOGIC CORPORATION - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 0-23298 33-0537669 - ---------------------------- ------------ ------------------ (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No) 3545 Harbor Boulevard, Costa Mesa, California 92626 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (714) 438-2200 Not Applicable - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Page 1 of 6 Exhibit Index on Page 4 2 ITEM 5. OTHER EVENTS On January 10, 2000, QLogic Corporation (the "Company"), issued a press release detailing its purchase of certain intellectual property assets acquired from Borg Adaptive Technologies, Inc., a wholly-owned subsidiary of nStor Corporation. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by this reference. ITEM 6. EXHIBITS Exhibits: 99.1 Press Release dated January 10, 2000. 2 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. QLOGIC CORPORATION Date: January 13, 2000 By: /s/ THOMAS R. ANDERSON ----------------------------- Thomas R. Anderson Vice President--Finance, Chief Financial Officer 3 4 EXHIBIT INDEX Sequential Exhibits Description Page No. -------- ----------- ---------- 99.1 Press release dated 5 January 10, 2000 EX-99.1 2 PRESS RELEASE DATED 1/10/00 1 EXHIBIT 99.1 Company Press Release QLogic Corporation Acquires AdaptiveRAID Technology for New I/O Interfaces COSTA MESA, Calif.--(BUSINESS WIRE)--Jan. 10, 2000--QLogic Corporation (Nasdaq: QLGC - news), the market share leader in Fibre Channel host bus adapters, and an innovator in SCSI connectivity solutions, today announced that it has acquired certain intellectual property from Borg Adaptive Technologies, Inc., a wholly-owned subsidiary of nStor Corporation. The technology, known as AdaptiveRAID(R), was purchased for $7.5 million in cash. As part of the transaction, QLogic will assume a facility lease in Boulder, Colorado where it plans to open a design center. "By adding the AdaptiveRAID(R) technology and the associated engineers to QLogic's resource pool, the Company is preparing for the development of new I/O interfaces, such as InfiniBand(SM)," according to H.K. Desai, the Company's Chairman, President and CEO. "We expect deployment of InfiniBand(SM)-based technologies to occur in the next several years. These new interfaces will require enhanced software and hardware I/O capabilities," added Mr. Desai. Mr. Desai also noted QLogic is highly enthusiastic about establishing a design center in Boulder, as this will give the Company access to local software, firmware and ASIC engineering resources. The new Boulder location should complement QLogic's current engineering activities in Orange County and Austin, according to Mr. Desai. The Company will account for this transaction in its fourth fiscal quarter ending April 2, 2000. The Company will evaluate the allocation of the purchase price to the assets acquired. Such assets include in-process technology that will be written off in the fiscal quarter ending April 2, 2000, and goodwill associated with AdaptiveRAID(R) technology which will be amortized over its useful life. The impact of the in-process technology write-off is expected to be material to the Company's fiscal fourth quarter earnings. Excluding the in-process technology write-off, the impact of the purchase to earnings in fiscal 2000 is expected to be immaterial. About QLogic QLogic Corporation is a leading designer and supplier of semiconductor and board-level I/O and enclosure management products. The Company's products provide high-performance interface connections for computer systems and their attached data storage peripherals, such as hard disk drives, tape drives and RAID subsystems. In addition, QLogic provides enclosure management products that monitor and communicate management information related to components that are critical to computer system and storage subsystem reliability and availability. QLogic's highly integrated, fully featured solutions are targeted at the computer system, storage device and storage subsystem marketplaces. QLogic Customers include: AMI, Compaq, Dell, Fujitsu, Hitachi, IBM, Intel, Mylex, Quantum, Raidtec, Siemens, Sun and Unisys. The company is utilizing its expertise to develop products for emerging standards such as Fibre Channel and Ultra3, as well as, SAF-TE, SES, and IPMI enclosure management solutions. For more information about QLogic and its product lines, contact QLogic Corp., 3545 Harbor Blvd., Costa Mesa, CA 92626; telephone: 800/662-4471 (sales); 714/438-2200 (corporate); fax: 714/668-5008; home page http://www.qlc.com. 2 Disclaimer -- Forward Looking Statements With the exception of historical information, the statements set forth above include forward-looking statements that involve risks and uncertainties. The Company wishes to advise readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include uncertainties concerning the identification and integration of appropriate technology acquisitions and new technical personnel; new and changing technologies and uncertain customer acceptance of those technologies; a change in semiconductor foundry capacity or conditions; fluctuations in the growth of I/O markets; fluctuations or cancellations in orders from OEM customers; the Company's ability to compete effectively with other companies; cancellation of OEM products associated with design wins; and reductions in the need for space and increased costs of operations due to facility relocation. Carrying additional expansion space may increase costs and adversely impact future earnings. These and other factors which could cause actual results to differ materially are also discussed in the company's filings with the Securities and Exchange Commission, including its recent filings on Form S-3, Form 10-K, and Form 10-Q. Trademarks and registered trademarks are the property of the companies with which they are associated. - -------------------------------------------------------------------------------- Contact: QLogic Corporation, Costa Mesa Thomas R. Anderson, 714/668-5092 Fax: 714/668-5090 or Michael R. Manning, 714/668-5344 Fax: 714/668-5090 2 -----END PRIVACY-ENHANCED MESSAGE-----