Saturday, September 05, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Facebook Dominates The Smartphone Apps Market
Toyota To Invest $50 million In Research Centers For Self-driving Cars
Report Reveals the Web's Shadiest Neighborhoods
Google Play Is Coming Back To China: report
Hackers Stole Data From Bugzilla
BlackBerry To Buy Rival Good Technology
GIGABYTE Z170X-UD5 Motherboard Is Intel Thunderbolt 3 Certified
LG Bets On OLED's Success, Showcases Innovative Prototypes At IFA2015
Active Discussions
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
 Home > News > PC Parts > Seagate...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, December 21, 2005
Seagate Seen Buying Maxtor


Seagate Technology, the giant digital storage company, reached a deal yesterday to acquire a rival, the Maxtor Corporation, for $1.9 billion in stock, according to executives involved in the transaction.

The deal, which was approved by the boards of both companies, is expected to be announced as early as today, according to NY Times.

Seagate's acquisition comes as the market for digital storage is booming. Corporations and individuals are saving vast numbers of files that are ever increasing in size, especially with the rising number of audio and video files.

Still, the disk drive market - which has been on a faster technology track than the computer chip world as measured by the rate of increase of storage density - has been brutally competitive with dozens of foreign entrants keeping prices low.

Under the terms of the deal, Maxtor shareholders will receive 0.37 share of Seagate stock, the equivalent of $7.25 a share. That is a 60 percent premium over the price of Maxtor's shares.

When the deal is completed Seagate investors will own about 84 percent of the combined company and Maxtor shareholders about 16 percent.

For Seagate, the deal is rather is a gamble that it can utilize its manufacturing infrastructure to make Maxtor's disk drives at a lower cost.

Maxtor lost money in four of the five most recent quarters and two of the last three years. The most significant challenge for Maxtor, based in Milpitas, Calif., is that it has not been a factor in the market for mobile disk drives, which are used in portable computers and in MP3 music players like the Apple iPod.

In the slower-growing but still strong market for desktop drives, Seagate has been the market leader followed by Western Digital and Maxtor.


Previous
Next
Samsung Adds DMB Features to its D600 Mobile Phone        All News        Ritek, CMC Magnetics Expect Significant Growth in 2006
Toshiba to Highlight PMR and 0.85-Inch HDD at 2006 Storage Visions Conference     PC Parts News      Elpida Memory Ships 80nm 2Gbit DDR2 SDRAM Samples

Get RSS feed Easy Print E-Mail this Message

Related News
Seagate Develops High Density Mobile Hard Drive Technology, New Portfolio of 8TB Hard Drives
Seagate Teams with Toshiba, WD for Kinetic Open Storage Project
Seagate Expands Flash Portfolio With New Nytro Flash Products
Seagate Announces Game Drive for Xbox One and Xbox 360
Seagate Micron Alliance Introduce New SAS Solid State Drive
Seagate Launches New Hybrid Cloud Data Protection Solutions
Seagate Demos HAMR Drives
New Seagate Backup Plus Drives Feature 200GB Of OneDrive Cloud Storage
New Samsung HDDs Deliver up To 4TB Of Storage In Thin And Portable Designs
A Look At Upcoming SSD Controllers
Seagate Combines Cloud Storage Systems, High Performance Computing and Electronic Solutions Groups
Seagate Collaborates With CERN Openlab To Develop Its Breakthrough Kinetic Storage Platform

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .