I’m back. As you may have read last week, technology reporter Dan Anderson has moved on. I’ve taken over the beat. I look forward to working with you all. You may recall I covered tech for a time late last year. Feel free to e-mail me at
tolkoff@ocbj.com
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Irvine-based Stack Computer Inc., a network services provider, was bought for $28 million in cash earlier this month.
Agilysys Inc., a technology service provider in Boca Raton, Fla., bought privately held Stack in a cash deal.
The lure: Stack’s work with data storage computer maker EMC Corp.
“It was their relationship with EMC, the strength of their technical and services team and geographically, it made a lot of sense,” said Bob Bailey, executive vice president at Agilysys. “They have a great customer base that’s very fond of them.”
Stack is one of EMC’s largest resellers and has been a distributor of its products for a dozen years.
Agilysys said it expects more than 13% of its $500 million in yearly revenue to come from reselling EMC storage products and software as a result of the deal.
Stack counts annual sales of about $55 million and has 33 local workers.
Customers include banking and mortgage companies and auto and dental device makers.
It targets companies with big computer networks that can’t afford to have their systems down, Stack founder John Orr said.
Agilysys is set to get Stack’s $25 million data center, used to simulate computer networks, train staff and test products. It’s EMC’s top test site in the area, according to the company. Other suppliers, including SanDisk Corp., Cisco Systems Inc. and Veritas Software Corp., also test gear there.
The company said it wouldn’t be making changes at Stack’s Irvine office.
“Everybody is staying put, and we expect to be adding headcount there,” Orr said.
He declined to give specifics.
Agilysys recently sold its computer distribution unit, KeyLink Systems, and is looking to focus on storage and tech services. It bought a handful of businesses in the past three years and is scouting for more.
“We have quite a big amount of cash,” Bailey said.
The goal is to grow to $1.5 billion in sales in three years, he said.
At recent check, Agilysys had a market value of about $655 million.
Foster Retires
Kent Foster, a tall Texan sprung on military discipline, is set to retire as chairman of the county’s largest company by sales after more than a decade at Santa Ana-based technology products distributor Ingram Micro Inc.
Foster is set to step down from his seven-year stint at Ingram Micro in June. Director Dale Laurance is set to succeed Foster.
He has some big boots to fill.
Foster was chief executive from 2000 to 2005.
His penchant for a military management style kept the company on track during lean years. The Vietnam veteran undertook a massive restructuring, cutting thousands of jobs and closing warehouses during the tech downturn.
Current Chief Executive Greg Spierkel has continued some streamlining while focusing on sales and profit growth.
“Kent has been an extraordinary business leader and board chairman, providing guidance during some of the most complex challenges in the company’s history,” Laurance said.
Laurance, 61, has served on the board for six years. He’s the board’s lead director, chair of the governance committee and a member of the audit committee.
He retired as president of Occidental Petroleum Corp. in 2004 after 21 years with the oil and natural gas company known as Oxy. He served on Oxy’s board for 14 years. He is principal of Laurance Enterprises LLC, a private financial services and investment firm.
Laurance also serves on the boards of Jacobs Engineering Group Inc. and Hancock Park Associates LLP, a private equity firm in Los Angeles.
An Ingram Micro spokesman declined to give specifics about Foster’s retirement plans. Dallas, where he commuted to Ingram Micro from, likely will figure large.
“He wants to ride into the sunset and do his own thing,” Ingram Micro spokesman Jim Trainor said. “He’ll be missed.”
Hedging on Jazz
Greenwich, Conn.-based hedge fund Silver Point Capital LP has taken a 22% stake in Jazz Technologies Inc., parent of Newport Beach chip plant operator Jazz Semicon-ductor Inc.
Silver Point Capital owns about 7 million shares of Jazz, according to a recent filing with the Securities and Exchange Commission. The hedge fund said it bought the stock as an investment and doesn’t seem to have any near-term plans to agitate for changes.
Jazz Semiconductor was bought by Acquicor Technology Inc., a Newport Beach “blank check” company started by Apple Inc. alums, for about $260 million in February. After the sale, Acquicor changed its name to Jazz Technologies.
Silver Point Capital also has a stake in Santa Ana-based MSC.Software Corp., which makes software used by manufacturers to test their designs.
Blade Confab
Some local tech companies are readying presentations for a new industry conference set for next month.
The Server Blade Summit is set to address a trendy topic: “Blades and Virtualization: The Perfect Marriage.”
Blades are a type of server that can deliver a lot of power in a compact package. They can be easily inserted into a computer room rack, making for easy expansion.
Virtualization is the ability for software to “virtually” parcel up the servers to run multiple operating systems at once.
Attendees are set to include Broadcom Corp., Emulex Corp., QLogic Corp. and STEC Inc. The big guys also should be on hand: IBM Corp., Microsoft Corp., Sun Microsystems Inc. and Symantec Corp.
The conference is May 1 to 3 at the Anaheim Marriott. Details at www.server bladesummit.com.
