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Thursday, July 1, 2010
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WD Completes Acquisition OF Hoya's Magnetic Media Opeartions
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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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