Seagate agrees to buy Samsung's drive business
Seagate has agreed to acquire Samsung's hard drive business for $1.375 billion in a deal that gives Samsung a 9.6 percent stake in the hard-drive specialist and that forges an alliance for the new era of flash memory storage.
The companies announced the deal today, a new step in the steady consolidation of a major part of the computing industry. Last month, Western Digital signed a deal to acquire Hitachi's hard-drive unit for $4.3 billion, thereby vaulting it over Seagate to become the largest hard drive maker. Seagate's deal today would reduce the market … Read more