SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 25, 1996
SYQUEST TECHNOLOGY, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-19674 94-2793941
(Commission File Number) (IRS Employer Identification No.)
47071 Bayside Parkway, Fremont, California 94538
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (510) 226-4000
Not Applicable
(Former name or former address, if changed since last report.)
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INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events
Discontinuation of SyQuest's Plans to Acquire a Controlling
Interest in Nomai
On November 25, 1996, SyQuest Technology, Inc.
("Registrant") announced the discontinuation of negotiations to
acquire Nomai, S.A. ("Nomai") (as described in Registrant's Form
8-K dated November 11, 1996). Registrant also announced that it
planned to pursue legal action to enforce various claims against
Nomai. The discontinuation of the negotiations is also described
in the press release attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits
c) Exhibits
99.1 Registrant's Press Release dated November 25, 1996
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
SYQUEST TECHNOLOGY, INC.
(Registrant)
Date: November 25, 1996 By /s/ Edwin L. Harper
Edwin L. Harper
President and Chief
Executive Officer<PAGE>
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Exhibit 99.1
Contact:
Ed Harper Richard Cline
SyQuest Technology Miller/Shandwick Technologies
(510) 226-4202 (415) 962-9550
FOR IMMEDIATE RELEASE:
FREMONT, CALIFORNIA, November 12, 1996 - SyQuest Technology
(NASDAQ;SYQT), a leading supplier of removable cartridge hard
drives, said today that its previously announced plans to acquire
Nomai, S.A., a major French manufacturer of removable hard drives
and cartridges, are no longer being pursued.
SyQuest said that Nomai had attempted to substantially alter
the terms of the acquisition reached in the letter of intent
announced on November 18. As a result, Nomai reneged on terms
agreed upon in the prior week, the company said.
SyQuest had previously obtained a court judgment against Nomai
for infringement of intellectual property rights. The Company said
it will take aggressive legal action to protect such property
rights and to otherwise enforce its claims against Nomai.
SyQuest Technology, founded in 1982, has an installed base of
more than three million removable cartridge hard drives and 15
million cartridges worldwide. Headquartered in Fremont,
California, the company maintains manufacturing plants in Fremont
and in Penang, Malaysia, with additional facilities in California,
Colorado, Europe and Asia. SyQuest offers removable cartridge hard
drives for Apple, Windows, MS-DOS, PC-DOS, UNIX, SGI and SunOS
platforms. SyQuest can be referenced on the World Wide Web at
http://www.syquest.com.
This news release contains forward-looking statements that
involve risks and uncertainties, including competition in the
marketplace for the company's products; other risks detailed from
time to time in the SEC reports filed by SyQuest, including the
report on Form 10-Q filed for the quarter that ended June 30, 1996;
Form S-3 filed August 29, 1996, as supplemented; and subsequently
filed Forms 8-K.
