sTec

{{pic|Simple Technology logo.svg|Logo of Simple Technology used from 1990 to 2001}}

In 1990, Simple Technology was founded by two brothers from Iran: Manouch Moshayedi and Mike Moshayedi. Using $100,000 of their own savings, the brothers created a company that designed and sold computer memory modules. Three years later, Mark Moshayedi (aged 38 at the time) joined the company as chief operating and technical officer.P J. Huffstutter, March 16, 2000. “[https://www.latimes.com/archives/la-xpm-2000-mar-16-fi-9346-story.html Simple Technology IPO Planned With $57.5-Million Goal].” LA Times. Retrieved on December 17, 2008.Chris Mellor, June 17, 2008. “[https://www.theregister.co.uk/2008/06/17/sizzle_with_this_stec/print.html There's a lot of sizzle with this STEC].” The Register. Retrieved on December 17, 2008. They are of Iranian (Persian) descent.{{Cite news|url=https://www.theregister.co.uk/2008/06/17/sizzle_with_this_stec/|title=There's a lot of sizzle with this STEC|last=Mellor|first=Chris|date=June 17, 2008|work=The Register|access-date=2018-09-29|language=en}} Mark is related to them.{{Citation needed|date=September 2018}} From 1990 to 2007, the company designed and manufactured flash solid-state drives, dynamic random-access memory (DRAM), and static random-access memory (SRAM).{{Citation needed|date=September 2018}}.

In 1994, Simple Technology bought Cirrus Logic’s flash controller operation, to enter the flash memory business for consumer electronic devices. In 1998, Simple Technology bought SiliconTech Inc., obtaining that company's business flash memory customer base and operation. In 1999, sTec was first to market the 1 GB solid-state IDE storage devices, SDRAM modules and also 320 MB Type II CompactFlash.{{Citation needed|date=September 2018}}

Simple Technology became a publicly traded company on the NASDAQ stock exchange on September 26, 2000, under the ticker symbol of STEC.{{Cite news|url=https://www.latimes.com/archives/la-xpm-2000-mar-16-fi-9346-story.html|title=Simple Technology IPO Planned With $57.5-Million Goal|last=Huffstutter|first=P. J.|date=March 16, 2000|work=Los Angeles Times|access-date=September 29, 2018|language=en-US|issn=0458-3035}}

{{pic|SimpleTech logo.svg|Logo of Simple Technology used from 2001 to 2007}}

The company shortened its name to SimpleTech in 2001.

The SimpleShare consumer network attached storage device was announced in November 2004.Keith Shaw, November 15, 2004. “[http://www.accessmylibrary.com/coms2/summary_0286-14719699_ITM Cool Tools].” Network World. Retrieved on January 16, 2009 In 2006, SimpleTech announced its first portable external hard drive designed by Pininfarina.{{Citation needed|date=September 2018}}

In early 2007, the company sold the SimpleTech consumer division to Fabrik Inc. (a company funded and founded by Keyur Patel, Anaal Udaybabu along with Mike Cordano) for $43 million in cash.Om Malik, February 11, 2007. “[https://web.archive.org/web/20070214063229/http://gigaom.com/2007/02/11/fabrik-to-buy-simpletech-get-big-fast/ Fabrik to buy SimpleTech, get big fast].” GigaOm. Retrieved on January 16, 2009.

Fabrik continued to develop and market products under the SimpleTech brand including the Joggle.com website and the environmentally friendly [re]drive introduced in 2008.Company press release, January 28, 2008. “[http://www.fabrik.com/company/media-room/press-releases/17.php Fabrik Introduces Joggle at DEMO 08] {{webarchive|url=https://web.archive.org/web/20081012060408/http://www.fabrik.com/company/media-room/press-releases/17.php |date=2008-10-12 }}.” Retrieved on October 21, 2008.Michael Miller, January 29, 2008. “[http://blogs.pcmag.com/miller/2008/01/demo08_were_not_just_conferenc.php Demo08: ‘We’re Not Just Conference Producers, We’re Consumers']." PC Magazine. Retrieved on October 21, 2008.Sean Captain, January 30, 2008. “[http://www.popsci.com/scitech/article/2008-01/tech-startups-rock-demo-conference Tech Startups Rock DEMO Conference].” Popular Science. Retrieved on October 21, 2008.Dan Farber, January 29, 2008. “[https://web.archive.org/web/20080131091701/http://blogs.zdnet.com/BTL/?p=7767 Demo 08: Web apps for mere mortals].” ZDNet. Retrieved on October 21, 2008.Richard Martin, January 29, 2008. “[http://www.informationweek.com/news/internet/showArticle.jhtml?articleID=205921407 At DEMO, Business Organization Becomes The Key].” InformationWeek. Retrieved on October 21, 2008.Marshall Kirkpatrick, July 10, 2006. “[https://techcrunch.com/2006/07/10/fabrik-media-storage-opens-limited-beta-accounts-today/ Fabrik media storage opens limited beta accounts today].” TechCrunch. Retrieved on December 17, 2008.Gerry Blackwell, October 22, 2008. “[http://itmanagement.earthweb.com/entdev/article.php/3779701/Green+Backups:+The+SimpleTech+%5Bre%5DDrive+Review.htm Green Backups: The SimpleTech [re]Drive Review].” Datamation. Retrieved on December 17, 2008.

Fabrik was acquired by Hitachi in 2009 for an estimated $950 million.{{Citation needed|date=September 2018}}

{{pic|STEC logo 2007.svg|Logo of STEC, Inc., from 2007 to 2013}}

Following the 2007 sale, the remaining OEM business then operated as STEC, Inc. (later stylized as sTec, Inc.), and was publicly traded on NASDAQ until being acquired in 2013.{{Citation needed|date=September 2018}} The company then focused on business-flash memory products. At that point Mike Moshayedi resigned from sTec, Mark Moshayedi became president and chief operating officer and Manouch Moshayedi became CEO.{{Cite web|url=https://gigaom.com/2007/02/11/fabrik-to-buy-simpletech-get-big-fast/|archive-url=https://web.archive.org/web/20070214063229/http://gigaom.com/2007/02/11/fabrik-to-buy-simpletech-get-big-fast/|url-status=dead|archive-date=February 14, 2007|title=Fabrik to buy SimpleTech, get big fast|last=Malik|first=Om|date=February 11, 2007|website=Gigaom|language=en-US|access-date=September 29, 2018}}

In March 2007, Mark Moshayedi was promoted to president.{{cn|date=December 2021}} This same year, sTec became the industry's first supplier to deploy enterprise-class SSDs to OEMs.

In 2009, after announcing EMC Corporation as the sole customer of its ZeusIOPS enterprise SSDs, sTec sales reached a $1 billion market capitalization.

In April 2011, sTec announced it acquired the assets of Knowledge Quest Infotech Private Limited in Pune, India.{{Cite news|title=STEC Acquires Assets of InfoTech PVT LTD and establishes a strategic R&D presence in India|work=Press release|date=April 19, 2011|url=http://stec-inc.com/press/articles/STEC_acquires_KQI.pdf|url-status=dead|archive-url=https://web.archive.org/web/20111211031758/http://stec-inc.com/press/articles/STEC_acquires_KQI.pdf|archive-date=December 11, 2011|access-date=August 29, 2013}}

In September 2012, Mark Moshayedi was named sTec chief executive officer.{{Cite news|url=https://www.reuters.com/article/us-stecinc-ceo/stec-ceo-resigns-on-insider-trading-charges-idUSBRE88H0MY20120918|title=Stec CEO resigns after insider trading charges|last=Alawadhi|first=Neha|date=September 18, 2012|work=Reuters|access-date=September 29, 2018|language=en-US}}

On June 24, 2013, Western Digital corporation announced sTec would become part of its HGST subsidiary, with a purchase price estimated at $340 million.{{Cite news|url=https://www.investors.com/news/technology/western-digital-acquires-solid-state-drive-maker-stec/|title=Western Digital Acquires Solid State Drive Maker Stec|last=Deagon|first=Brian|date=June 24, 2013|work=Investor's Business Daily|access-date=September 29, 2018|language=en-US}}

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SimpleTech is a consumer brand of external hard drives and backup products owned by Fabrik Inc. and designed to integrate computer hardware, software, and online services to help consumers store, protect, manage, and share digital content. The brand and product line was originally created by Simple Technology, a company founded in 1990, which later changed its name to SimpleTech in 2001.

The SimpleTech brand and consumer products included flash memory cards, USB flash drives, memory upgrades, and external and portable disk drive storage, to Fabrik in February 2007. Fabrik acquired the SimpleTech's storage platform to integrate and deliver backup and content management software and web services (FabrikUltimateBackup.com and Joggle.com), allowing consumers to store, access, manage and share their digital content.Duncan Martell, February 11, 2007. “[https://www.reuters.com/article/mergersNews/idUSN0919422520070212 Fabrik buys consumer business of SimpleTech].” Reuters. Retrieved on January 16, 2009.

The SimpleTech product line includes the Signature Mini USB Portable Drives, the Pro Drive family, and the environmentally friendly SimpleTech [re]drive.[http://www.simpletech.com/ SimpleTech Website] {{webarchive|url=https://web.archive.org/web/20060126234640/http://www.simpletech.com/ |date=2006-01-26 }} The original design of the SimpleTech portable external storage product line was inspired by the Ferrari design team Pininfarina.Press Release, February 12, 2007. “[http://www.fabrik.com/company/media-room/press-releases/1.php Fabrik Acquires SimpleTech’s Consumer Business] {{webarchive|url=https://web.archive.org/web/20081012051803/http://www.fabrik.com/company/media-room/press-releases/1.php |date=2008-10-12 }}”. Retrieved on December 17, 2008.Unknown author, August 12, 2008. “[http://www.sramanamitra.com/2008/08/12/deal-radar-2008-fabrik/ Deal Radar 2008: Fabrik].” sramana mitra. Retrieved on October 21, 2008. Retrieved on December 17, 2008.Ryan Block, April 9, 2008. “[https://www.engadget.com/2007/04/09/simpletech-simpledrive-up-to-1tb-pininfarina-design/ SimpleTech SimpleDrive: up to 1TB, Pininfarina design].” Enamengadget. Retrieved on December 17, 2008.

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Category:Computer storage companies

Category:Companies based in California

Category:Companies formerly listed on the Nasdaq

Category:Western Digital

Category:Defunct computer companies of the United States

Category:Defunct computer hardware companies