Toshiba today announced that it has completed the transfer to its control of Fujitsu Limited's hard disk drive (HDD) business and that it will introduce a new operating structure for the HDD business.
On April 30, 2009, Toshiba and Fujitsu announced the conclusion of a definitive agreement on the transfer of Fujitsu's hard disk drive (HDD) business to Toshiba. The companies have now carried out all necessary procedures and today completed the transfer. Toshiba will promote maximization of synergy with Fujitsu's enterprise HDD business and technology, and expand its HDD business.
As previously announced, Fujitsu's HDD-related business and functions will be transferred to a new company, Toshiba Storage Device Corporation (TSDC). Toshiba has acquired a stake of approximately 80 percent in TSDC and made it a Toshiba Group subsidiary. Fujitsu will hold interest of slightly less than 20 percent in the company for a certain period of time in order to facilitate the business transfer, after which Fujitsu will transfer its stake to Toshiba and TSDC will become a wholly owned subsidiary of Toshiba.
Under the new business structure, Toshiba will reinforce its already strong market position as a leading vendor of small form factor HDDs, expand its enterprise HDD business and technology, and develop SSD products for servers and enterprise storage systems by integrating its NAND flash memory technology with Fujitsu's enterprise HDD technology.
Moreover, Toshiba expand its product line-up.