ADC Corp history

Magnetic Controls Company was founded and incorporated in Minnesota in 1953, part of the wave of technological development during the postwar era.

In 1961, Magnetic Controls merged with ADC Incorporated, and the new company, which used the umbrella name Magnetic Controls Company (ADC's trade name was retained in telecommunications), advanced its most significant innovation, the Bantam jack.

Although its telecommunications products were profitable, the magnetics division, which manufactured transformers and power supplies for mainframe peripherals, lost $1.2 million in fiscal year 1983.

In 1984, Magnetic Controls Company acquired TMS Systems, Inc., a private Massachusetts-based company that manufactured telephone call management equipment and software.

In 1985, the company purchased Aetna Life & Casualty Company’s Fiber Optic Component division in Westborough, Massachusetts.

New products introduced by ADC in 1988 included EDSX (an electronic digital signal cross-connect product) and Series 3000 tester software.

ADC also acquired Telinq Inc. in 1990 and used its newly acquired fiber-optics expertise to develop a local loop system with the goal of providing economical fiber directly to private homes.

Sales in 1992 reached $316 million, with shares priced at $56.75.

Fibermux proved so successful an investment for ADC that the loan was paid off by 1993.

In 1995 it bought Australian Fiber Optics Research, making inroads into the Australian market.

By 1997, with two more acquisitions under its belt, the company's revenue had exceeded $1 billion, and it was competing with such industry giants as Lucent Technologies, Motorola, and Northern Telecom.

Hopes for continued growth appeared to be justified in light of ADC’s experiences in 2000.

As of August 2003, the company had suffered through eight consecutive unprofitable quarters.

In fact, ADC hired roughly 100 new workers in the first quarter of 2004.