Mergers & Acquisitions
Apr. 21, 2011
Seagate Buys Samsung Unit
Scotts Valley-based Seagate Technology LLC bought the computer hard disk drive business from Samsung Electronic Co. Ltd. for $1.38 billion, adding to its powerhouse status in the hard disk drive industry.
Daily Journal Staff Writer
PALO ALTO - Scotts Valley-based Seagate Technology LLC bought the computer hard disk drive business from Samsung Electronic Co. Ltd. for $1.38 billion, adding to its powerhouse status in the hard disk drive industry.
The half cash, half stock deal is expected to close by the end of the calendar year. Samsung will own 9.6 percent of Seagate and have a seat on its board of directors. As part of the agr...
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