Seagate acquired Samsung's HDD business
The manufacturer quickly slammed into the desired option, the agreement promises benefits for both parties.
Two days ago, the Wall Street Journal is a surprise news posted on the Internet that the Samsung he wants to get rid of the hard drive business in a short time. This has now officially happened as Seagate, the second largest competitor in the HDD market, has acquired Samsung’s hard drive business. The share will cost $ 1,375 billion, half of which will be paid in cash and the other half in shares. Due to the latter, Samsung will have a 9,6% stake in Seagate. However, the transaction itself will not take place immediately, but only later, the closing is planned for the end of the year.
Under the agreement, NAND Flash chips developed and manufactured by Samsung can be used by Seagate in its SSD products and hybrid hard drives for the business sector. And Seagate makes hard drives for Samsung that can be used in a variety of computer configurations and other consumer electronics devices. Seagate should also provide a Samsung executive seat on the board. Of course, future developments will be implemented in close cooperation, so fresh developments can get into the hands of customers at a faster pace. With this move, the HDD market will become virtually three players (Western Digital, Seagate, Toshiba). The original press release can be viewed by clicking on the source link.
