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Adaptec Announces Agreement with PMC

May 10, 2010

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, Kenneth A. Schlesinger, Elizabeth R. Gonzalez and Michael D. DeDonato; Intellectual Property: Steven R. Gursky and Mary L. Grieco; and Employee Benefits: Barry L. Salkin.

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