Saturday, September 20, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Microsoft Offers iPhone Users 30 GB of Free Storage
New Tizen Device Coming in India
Samsung Launches My Knox App For Latest Mobile Device
Android L To Support Encryption By Default
Microsoft Outlines Basic Elements Of Direct3D 12
New GeForce WHQL Driver Released
Panasonic and Leica Expand Partnership Agreement
Acer Brings 4K2K Displays With NVIDIA G-SYNC to The US
Active Discussions
Yamaha CRW-F1UX
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
 Home > News > PC Parts > Seagate...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, December 20, 2011
Seagate Completes Acquisition of Samsung's Hard Disk Drive Business


Seagate Technology plc on Tuesday announced the closing of the transaction to acquire the hard disk drive (HDD) business of Samsung Electronics, after receiving approval for the deal in Australia, China, and the European Commission.

Under the terms of the transaction, Seagate has gained select elements of Samsung's HDD business, including assets, infrastructure and employees. These assets include Samsung's M8 product line of high-capacity, 2.5-inch HDDs. Samsung employees joining Seagate include a number of senior managers and design-engineering employees from Samsung's Korea facility, who will focus on development of small form-factor products for the mobile compute market. N.Y. Park, senior vice president and general manager, will oversee Seagate's product development activities in Korea and serve as country manager of the Korea design center, reporting to Bob Whitmore, Seagate's executive vice president and CTO.

"Together, Seagate and Samsung have aligned our current and future product development efforts and roadmaps in order to accelerate time-to-market efficiency for new products and position us to better address the increasing demands for storage," said Steve Luczo, Seagate chairman, president and CEO. "It is an exciting time in the industry with rapidly evolving opportunities in many markets including mobile computing, cloud computing, and solid state storage."

This transaction was announced in April 2011 along with a series of other agreements between Seagate and Samsung. Seagate is supplying disk drives to Samsung for PCs, notebooks and consumer electronics devices. Samsung is supplying its semiconductor products for use in Seagate's enterprise solid state drives (SSDs), solid-state hybrid drives and other products. The companies have also extended and enhanced their existing patent cross-license agreement and have expanded cooperation to co-develop enterprise storage solutions.

"The strategic relationship will open new opportunities for the two companies by mutually complementing each other's creative technology solutions for a broad diversity of IT applications," said Oh-Hyun Kwon, vice chairman of Device Solutions of Samsung Electronics.

The transactions and agreements substantially expand Seagate's customer access in China, Southeast Asia, Brazil, Germany and the Russian Federation. To ease the transition of products and technologies, Seagate will retain certain Samsung HDD products under the Samsung brand name for 12 months, and maintain or establish a number of independent operations including sales staff, key production lines and R&D.

The combined value of these transactions and agreements is approximately US $1.4 billion, consisting of 45,239,490 Seagate Ordinary Shares and the remaining balance settled in cash. In addition, Samsung will designate a nominee to join Seagate's Board of Directors.

In 2010, HDD shipments from both Seagate and Samsung added to 261.2 million units, giving the combined companies 40 percent of the HDD market, according to IHS iSuppli. Western Digital and Hitachi Global Storage Technologies held the number one position with a 50 percent share.However, the market shares are likely to change in this quarter and early next year after the Thailand floods halted production at the facilities of Western Digital in the country, though the supply chain to Seagate's factories in the country was also affected.

Western Digital said in March that it would buy Hitachi Global Storage Technologies for $4.3 billion in cash and stock. The acquisition is expected to close by March next year.


Previous
Next
Dell And Baidu Launches Streak Pro Smartphone in China        All News        ITC to Ban Select HTC Android Phones
Ultra-portable USB 3 SSD from SuperTalent     PC Parts News      Dell Quits Notebook Market

Get RSS feed Easy Print E-Mail this Message

Related News
Order Your Samsung Galaxy Note 4 Today
Samsung Now Mass Producing 20-Nanometer 6Gb LPDDR3 Mobile DRAM
New Samsung NX1 Launches With APS-C backside-illuminated CMOS
Korean Authorities To Inverstigate LG-Samsung Dispute
Samsung Open Source Conference Kicks off Tuesday
Seagate Announces New Cloud, Storage Services
Diesel Black Gold Introduces Custom Samsung Gear S at Runway Show
Samsung Outlines Its Vision for the Future Home At IFA 2014
Samsung Launches Tizen Wearable SDK for Gear S
Samsung Galaxy Tab Active Announced At IFA
Samsung Goes Curvy At IFA 2014
Samsung Partners With Oculus On Gear VR, Announces Galaxy Note 4 And Galaxy Edge at IFA 2014

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .