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Symbios Inc

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February 20, 1998 | From Bloomberg News
Adaptec Inc. on Thursday agreed to buy Symbios Inc., a subsidiary of Hyundai Electronics America, for $775 million in cash as it seeks to diversify its business and reverse a recent slowdown in sales growth. Adaptec, which makes adapter cards that connect personal computers to printers, storage drives and other accessories, would use its $727-million cash reserve and take an undisclosed charge to buy Symbios.
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BUSINESS
June 26, 1998 | From Reuters
Two computer chip component makers abandoned a merger Thursday, hours before the government was set to take antitrust action against them, the companies and sources said. Adaptec Inc. terminated its $775-million deal to acquire Hyundai Electronics America's Symbios Inc., as the Federal Trade Commission was set to vote that the deal violated antitrust laws.
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