Adaptec Announces Agreement with PMC

Olshan’s client Adaptec, Inc. announced that it signed a definitive agreement with PMC-Sierra, Inc. to sell to PMC certain assets connected with the Company's data storage hardware and software business for approximately $34 million in cash. The Olshan team working on this transaction includes: Corporate: Steve Wolosky and Kenneth A. Schlesinger and Intellectual Property: Steven R. Gursky and Mary L. Grieco.