On April 19, 2011 STEC, Inc. (via its wholly owned subsidiary STEC India Private Limited) acquired certain assets and IP of KQ Infotech (KQI) in Pune, India. This acquisition helps STEC establish a new strategic R&D Center and the company has hired key employees of KQI. The acquisition builds on our commitment to extending our 17-year leadership in building the world's most advanced SSDs for the highly demanding enterprise storage and server storage markets and paves the way for adding another level of sophistication to our products.
The addition of the KQI team to our growing global software development group quickly expands our capabilities in server storage infrastructure optimization. Mr. Anurag Agarwal, KQI's founder and CEO, will lead the team and become STEC India's General Manager reporting to Reza Sadri, Software Technologist, Office of the CTO.
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