STEC, Inc.

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STEC, Inc.
Type	Public (NASDAQ: STEC)
Founded	1989
Headquarters	Santa Ana, California
Key people	Manouch Moshayedi, Chairman & CEO
Industry	Semiconductors
Products	Computer memory
Revenue	$352.1 million USD (2006)
Employees	400 Worldwide
Website	www.stec-inc.com

STEC, Inc. NASDAQ: STEC is a multinational company based in Santa Ana, California best known for producing many forms of semiconductor memory. This includes a vast spectrum of industrial grade DRAM, flash memory and Solid-state drive (SSD) solutions.

[edit] History

STEC, Inc. was originally founded in California in March 1990 as Simple Technology, Inc. The name was then changed to SimpleTech, Inc. in May 2001, and again to STEC, Inc. in February 2007 after the divesture of its consumer business to Fabrik. STEC designs, manufactures and markets custom and open-standard memory solutions based on Flash and DRAM memory technologies. Headquartered in Santa Ana, California, STEC offers a comprehensive library of advanced OEM DRAM and Flash memory and storage solutions.

Simple Technology was founded by Manouch and Mike Moshayedi. On March 20, 2007, it was announced that the company's Chief Technical Officer and Chief Operating Officer Mark Moshayedi was promoted to President. He will hold his previous offices, and will report to older brother, Chief Executive Officer Manouch Moshayedi. Mark Moshayedi joined STEC in 1992. This appointment fills the office left vacant following the company's divestiture of its Consumer Division in February 2007. Mark Moshayedi has been primarily responsible for leading the company's technology development initiative, which significantly contributed to the company's record operating performance in 2006. Manouch Moshayedi, a co-founder of SimpleTech, has served as President or Chief Executive Officer and Chairman of the Board of Directors since the inception of the company in March 1990. From March 1990 to September 1994, Mr. Moshayedi also served as Chief Financial Officer. Mr. Moshayedi graduated with a BS in engineering from California State University, Fullerton and an MBA from Long Island University in New York. Mr. Moshayedi is the brother of Mike Moshayedi and Mark Moshayedi, both of whom are executive officers and directors. Mike Moshayedi resigned from the company as President and Director. Dan Moses has served as Chief Financial Officer since September 1994 and director since March 2000. From October 1992 to August 1994, Mr. Moses served as Controller. Prior to joining SimpleTech, Mr. Moses was a Senior Auditor with PricewaterhouseCoopers LLP from May 1990 to October 1992. Mr. Moses graduated with a BS in business administration from the University of California, Riverside and a Master's of Accounting from the University of Southern California. Mr. Moses is a Certified Public Accountant. SimpleTech specializes in memory products -- including DRAM (dynamic random-access memory), SRAM (static RAM), and flash memories -- used in laptops, network routers, digital cameras, and other electronics. The company's OEM Division makes custom memories for electronics manufacturers such as Unisys and Cisco. Co-founders and brothers Manouch (CEO), Mike (former president), and Mark (COO) Moshayedi and their families collectively own more than 60% of SimpleTech, which is changing its corporate name to STEC, Inc.