Seagate will take over Samsung’s hard disk drive operations as part of an expansion of the companies’ strategic relationship announced Tuesday. The HDD deal is one of multiple transactions totaling $1.375 billion, which will be paid by Seagate to Samsung, half in stock and half in cash. This could be Seagate’s return fire at rival, Western Digital, which announced last month that it would buy Hitachi’s disk drive business. The companies expect the strategic agreement will help align their current and future product development efforts and road maps.
Loading ...
Seagate Shores Up HDD Operations With Samsung Deal
Posted by: Rob Spiegel April 19, 2011 12:15 PMSeagate will take over Samsung’s hard disk drive operations as part of an expansion of the companies’ strategic relationship announced Tuesday. The HDD deal is one of multiple transactions totaling $1.375 billion, which will be paid by Seagate to Samsung, half in stock and half in cash. This could be Seagate’s return fire at rival, Western Digital, which announced last month that it would buy Hitachi’s disk drive business. The companies expect the strategic agreement will help align their current and future product development efforts and road maps.