Seagate completes purchase of Samsung HDD business
20th Dec 2011 | 10:12
Enhances strategic partnership
Seagate has finalised its purchase of Samsung's hard disk drive business –gaining 'select elements' including assets, infrastructure and employees.
American company Seagate has snapped up the HDD business and takes over the likes of Samsung's high capacity 2.5-inch drives along with bringing over some of the key design engineers and senior managers from the Korean company.
"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."
The deal was announced back in April alongside a strategic partnership that will see Seagate drives used in Samsung laptops and Seagate gaining semi-conductors from Samsung for its solid state drives.
"The companies have also extended and enhanced their existing patent cross-license agreement and have expanded cooperation to co-develop enterprise storage solutions," added Seagate's release.