Turn off the Ad Banner  

To print: Select File and then Print from your browser's menu.

    -----------------------------------------------
This story was printed from CdrInfo.com,
located at http://www.cdrinfo.com.
-----------------------------------------------

Appeared on: Monday, December 23, 2013
Seagate to Acquire Xyratex For $374 mln

Seagate Technology Plc said it would buy network and storage equipment maker Xyratex Ltd for about $374 million in cash.

Xyratex has developed a hard disk drive capital test equipment business. The acquisition of this business will strengthen Seagate's vertically integrated supply and manufacturing chain for disk drives and ensure uninterrupted access to important capital equipment. The acquisition also expands Seagate's storage solutions portfolio by adding Xyratex's enterprise data storage systems and high-performance computing business. Seagate will operate this business as a standalone entity and will focus on opportunities to improve and expand the business.

The transaction has been approved by Xyratex's Board of Directors and is subject to customary closing conditions, including review by regulatory bodies and approval by Xyratex shareholders. The transaction is currently expected to close in mid-calendar year 2014.




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 .