Gadzoox Networks, Inc. produced hardware and software for the entry-level storage area network market. In 2000, at the peak of the dot-com bubble, the company was valued at $2 billion; however, after filing bankruptcy in 2002, its assets were acquired by Broadcom in 2003 for $5.8 million.
History
The company was founded in 1996.[1]
In March 2000, the company acquired SmartSAN for $23.5 million.[2]
In June 2000, the company launched Axxess.[3]
In July 2000, during the dot-com bubble, the company became a public company via an initial public offering. Shares were priced at $21 each but soared as high as $87 each on the first day of trading, giving the company a market capitalization of $1.97 billion.[4]
In August 2000, Bill Sickler, the CEO of the company, and Christine E. Munson, the CFO of the company, resigned after announcing a financial restatement.[5]
In January 2002, the company raised $8.9 million in funding.[6]
In August 2002, the company filed bankruptcy.[7]
In March 2003, Broadcom acquired the assets of the company for $5.3 million.[8]
References
- ^ Roberts, Paul F. (March 3, 2003). "Broadcom buys Gadzoox assets for $5.8 million". International Data Group.
- ^ SHANKLAND, STEPHEN. "Short Take: Gadzoox beefs up storage power". CNET.
- ^ Connor, Deni (June 12, 2000). "Gadzoox launches storage pooling devices". International Data Group.
- ^ "GADZOOX SOARS IN IPO". Wired. July 20, 1999.
- ^ "Form DEF 14A Gadzoox Networks Inc DEF 14A - Other definitive proxy statements". U.S. Securities and Exchange Commission. September 5, 2000.
- ^ SHANKLAND, STEPHEN (January 24, 2002). "Gadzoox raises $8.9 million". CNET.
- ^ "GADZOOX NETWORKS FILES FOR BANKRUPTCY PROTECTION". The New York Times. Dow Jones & Company. August 24, 2002.
- ^ "Broadcom acquires Gadzoox assets". American City Business Journals. March 3, 2003.
