Foothill Ranch-based Aristos Logic Corp., a maker of controller chips for storage networks, is selling to Adaptec Inc. for $41 million, or about half of the venture funding it’s raised since 2000.
The sale likely is a disappointment to Aristos backers, who have made the company one of the better funded startups in Orange County.
Investors include JP Morgan Partners LLC, Texas Pacific Group Capital, Woodside Fund and QTV Capital.
Milpitas-based Adaptec is paying cash for Aristos, which makes chips and circuit boards that speed the flow of data among computers on networks.
Aristos got its start as a business within Western Digital Corp.
At the start of the decade, the Lake Forest-based disk drive maker was looking to outsource parts of its business, including its chips for storage networking.
Executives and workers from the unit ended up starting Aristos.
