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|21st December 2011, 06:51||#1|
Join Date: May 2010
Seagate Finalizes the Acquisition of Samsung's Hard Drive Business
Seagate Technology has today announced that it completed the acquisition of Samsung Electronics' hard drive unit. Worth $1.4 billion, this deal covers the assets, infrastructure and employees of Samsung's HDD business and is supposed to boost Seagate's production capacity, R&D strength and customer access in China, Southeast Asia, Brazil, Germany and the Russian Federation.
As part of the agreement, Seagate will be supplying HDDs for Samsung PCs, notebooks and consumer electronics devices, while the South Korean giant will provide Seagate with semiconductor products needed for enterprise solid state drives (SSDs), solid-state hybrid drives and other products. Moreover, the two companies have signed an extended patent cross-license agreement, and have agreed to collaborate on the development of enterprise storage solutions.
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