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Thursday, July 01, 2010
WD Completes Acquisition OF Hoya's Magnetic Media Opeartions

Western Digital has completed the previously announced acquisition of the magnetic media sputtering operations of Hoya Corporation and Hoya Magnetics Singapore Pte. Ltd. for approximately $233 million.

The acquisition will support anticipated growth in hard drive demand.

WD has acquired the facilities, equipment, intellectual property and working capital of Hoya's media sputtering operations, based in Tuas, Singapore, as well as certain related equipment at Hoya's Nagasaka, Japan, research and development facilities. A multi-year commitment of Hoya glass substrate supply related to these operations was included in the agreement, Western Digital said.

The acquisition is expected to solidify WD's access to a key component for its 2.5-inch hard drive business. WD will also gain highly skilled employees, valuable intellectual property and access to Singapore's academic and technology resources.

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