Power I/O Corp.: The privately held Irvine...

Power I/O Corp.: The privately held Irvine company has been acquired by Milpitas-based Adaptec Inc. for $7 million in cash. Power, which was founded two years ago, develops high-speed input-output and networking technologies. Adaptec designs, manufactures, and markets solutions to eliminate performance bottlenecks between microcomputers, networks, and peripherals.