SyQuest Technology
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SyQuest Technology, Inc., now known as SYQT, Inc., was early entrant into the removable hard disk market for personal computers. For many years SyQuest held the market, particularly as a method of transferring large desktop publisher documents to printers. SyQuest aim their products to give personal computer users "endless" hard drive space for data-intensive applications like desktop publishing, Internet information management, pre-press, multimedia, audio, video, digital photography, fast backup, data exchange, archiving, confidential data security and easy portability for the road.
In the years since 1995 they have not fared as well in the market, whilst Iomega cornered the Small Office/Home Office (SOHO) market. Over the period 1995 to 1997 sales declined resulting in a series of losses. In the first quarter of 1997 these losses had been reduced to $6.8 million with net revenues increasing to $48.3 million. This compares to a net loss of $33.8 million, or $2.98 per share, on net revenues of $78.7 million for the same period the year before.
Syquest filed for bankruptcy in late 1998, and portions of the company were subsequently purchased by Iomega Corp. in January, 1999. SYQT Retained the rights to sell their products, allowing them to continue operations.
External link
- SYQT homepage (http://www.syquest.com/)
- Silicon Valley InfoZone - SyQuest Technology (http://www.siliconvalleyinfozone.com/companies/SyQuest_Technology)
- This article was originally based on material from the Free On-line Dictionary of Computing, which is licensed under the GFDL.