Source: Adaptec Shutting Down Lake Forest Site

Storage hardware developer Adaptec is shutting down its Lake Forest, Orange County site, according to sources close to the company. No details on the shutdown have been given, and Adaptec has not returned emails and phone calls requesting confirmation of the move. Adaptec moved into Lake Forest in August of 2008, when it acquired Aristos Logic, a developer of RAID chips and technology. At that time, Aristos had approximately 75 employees. The move appears to be related to the sale of Adaptec's RAID storage business to PMC-Sierra Monday, in a deal worth $34M in cash; as part of the announcement of that deal, Adaptec said it was also looking to sell its Aristos ASIC technology business, plus a stable of patents and real estate, as part of a broader effort to unlock value in the company.