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Streamlogic Corp

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BUSINESS
October 15, 1996
StreamLogic Corp., a Chatsworth maker of data and video-storage products, said it has reached an agreement with the advisor to the company's bondholders. The holders of about 80% of the company's $75 million of 6% convertible subordinated debentures will be advised by Loomis Sayles & Co. to exchange their debentures for a package of cash, unsecured promissory notes, common stock and warrants. The exchange must be approved by the bondholders and company shareholders.
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BUSINESS
November 12, 1997 | JULIA SCHEERES, SPECIAL TO THE TIMES
After continued losses in a break-neck market, computer hard drive manufacturer Micropolis Corp. has gone out of business, laying off more than 2,400 workers worldwide, including 300 at its headquarters in Chatsworth. Micropolis' parent, government-owned Singapore Technologies, has hired Price Waterhouse to oversee the firm's liquidation. "The company has ceased operations," said Freddy Reiss of Price Waterhouse. "Singapore Technologies decided to exit the disk drive industry completely.
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CALIFORNIA | LOCAL
October 18, 1996 | PATRICE APODACA, TIMES STAFF WRITER
StreamLogic Corp., a supplier of data and video-storage systems with a rocky financial history, announced plans to relocate to Silicon Valley and cut 50 workers from its payroll. The company said the moves would help shave $700,000 to $800,000 from its quarterly operating expenses. In the quarter ended June 28, StreamLogic lost $5.55 million on net sales of $11.2 million. About 155 of StreamLogic's 220 employees are now based in Chatsworth.
BUSINESS
March 11, 1997
StreamLogic Corp., an electronic storage company, said that it is moving operations out of Chatsworth and Menlo Park, Calif. and into a single facility in Newark, Calif. Streamlogic employs about 70 people in Chatsworth and will transfer some of them, but the company has not said how many. The reason for the move is to reduce overhead costs, the company said. The move will be effective April 7.
BUSINESS
March 11, 1997
StreamLogic Corp., an electronic storage company, said that it is moving operations out of Chatsworth and Menlo Park, Calif. and into a single facility in Newark, Calif. Streamlogic employs about 70 people in Chatsworth and will transfer some of them, but the company has not said how many. The reason for the move is to reduce overhead costs, the company said. The move will be effective April 7.
BUSINESS
June 18, 1996
StreamLogic Corp., a Chatsworth provider of video delivery and data management systems, has agreed to acquire the hardware business of FWB Inc. in Menlo Park, a developer of computer storage products for multimedia and graphics applications. The transaction, which is expected to be completed July 1, calls for StreamLogic to pay $5 million, including $2 million in cash and $3 million in assumed debt. It will also issue about 1.25 million shares of its common stock valued at about $8 million.
BUSINESS
June 26, 1996 | Times Staff and Wire Reports
StreamLogic, Diana Unit to Develop Technology for Internet: The two Chatsworth-based companies did not disclose terms of the partnership in which they agreed to jointly develop technologies for moving information over the Internet. Sattel Communications, a unit of Milwaukee-based Diana Corp., will develop hardware and software used to direct data, while StreamLogic Corp. will provide video delivery and Internet storage systems.
BUSINESS
April 2, 1996
The Chatsworth company formerly known as Micropolis Corp. said it has sold its computer disk-drive business and changed its name to StreamLogic Corp. StreamLogic has received an initial payment of $29.7 million for the disk-drive operations from Singapore Technologies. Two more payments are required under the agreement, and StreamLogic estimates the total sale price will be $55 million.
BUSINESS
November 12, 1997 | JULIA SCHEERES, SPECIAL TO THE TIMES
After continued losses in a break-neck market, computer hard drive manufacturer Micropolis Corp. has gone out of business, laying off more than 2,400 workers worldwide, including 300 at its headquarters in Chatsworth. Micropolis' parent, government-owned Singapore Technologies, has hired Price Waterhouse to oversee the firm's liquidation. "The company has ceased operations," said Freddy Reiss of Price Waterhouse. "Singapore Technologies decided to exit the disk drive industry completely.
BUSINESS
November 13, 1996 | Times Staff and Wire Reports
Vons Cos. is expected today to respond to Safeway Inc.'s offer to buy the Southern California supermarket chain for $2.29 billion cash and assumed debt. . . . Rancho Cordova-based EndoSonics Corp. named Roger Salquist chairman. . . . Chatsworth-based StreamLogic Corp. appointed Barbara V. Scherer chief financial officer. . . Keith T. Davidson has been named president of Torrance-based Xplor International. . . . Irvine-based Subscriber Computing Inc.
CALIFORNIA | LOCAL
October 18, 1996 | PATRICE APODACA, TIMES STAFF WRITER
StreamLogic Corp., a supplier of data and video-storage systems with a rocky financial history, announced plans to relocate to Silicon Valley and cut 50 workers from its payroll. The company said the moves would help shave $700,000 to $800,000 from its quarterly operating expenses. In the quarter ended June 28, StreamLogic lost $5.55 million on net sales of $11.2 million. About 155 of StreamLogic's 220 employees are now based in Chatsworth.
BUSINESS
October 15, 1996
StreamLogic Corp., a Chatsworth maker of data and video-storage products, said it has reached an agreement with the advisor to the company's bondholders. The holders of about 80% of the company's $75 million of 6% convertible subordinated debentures will be advised by Loomis Sayles & Co. to exchange their debentures for a package of cash, unsecured promissory notes, common stock and warrants. The exchange must be approved by the bondholders and company shareholders.
BUSINESS
June 26, 1996 | Times Staff and Wire Reports
StreamLogic, Diana Unit to Develop Technology for Internet: The two Chatsworth-based companies did not disclose terms of the partnership in which they agreed to jointly develop technologies for moving information over the Internet. Sattel Communications, a unit of Milwaukee-based Diana Corp., will develop hardware and software used to direct data, while StreamLogic Corp. will provide video delivery and Internet storage systems.
BUSINESS
June 18, 1996
StreamLogic Corp., a Chatsworth provider of video delivery and data management systems, has agreed to acquire the hardware business of FWB Inc. in Menlo Park, a developer of computer storage products for multimedia and graphics applications. The transaction, which is expected to be completed July 1, calls for StreamLogic to pay $5 million, including $2 million in cash and $3 million in assumed debt. It will also issue about 1.25 million shares of its common stock valued at about $8 million.
BUSINESS
April 2, 1996
The Chatsworth company formerly known as Micropolis Corp. said it has sold its computer disk-drive business and changed its name to StreamLogic Corp. StreamLogic has received an initial payment of $29.7 million for the disk-drive operations from Singapore Technologies. Two more payments are required under the agreement, and StreamLogic estimates the total sale price will be $55 million.
BUSINESS
September 24, 1996
StreamLogic Corp., a Chatsworth maker of video delivery and data storage devices, said it reached a new agreement with bondholders to restructure its debt. The company said it agreed with holders of about 80% of its $75 million in 6% convertible subordinated debentures to exchange the debt securities for a package of cash, unsecured promissory notes, common stock and warrants to purchase common stock.
BUSINESS
May 6, 1997
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