Seagate Technology said Tuesday it has completed the acquisition of the hard disk drive (HDD) business of Samsung Electronics, after it recently received approval for the deal in Australia, China, and the European Commission.
Tech stocks looked strong Friday morning on the back of a week of upbeat surveys on small business and online spending, positive news about enterprise hardware and hopeful reports on U.S. employment and the European debt crisis.
Hard-drive maker Western Digital has resumed the partial production of hard drives in Thailand, but also warned that some of its operations were still under water from the severe floods that hit the country starting late July.
Western Digital will be allowed to take over Hitachi's hard-disk drive business, but only if it sells off a 3.5-inch hard-disk drive production plant.
The early brunt of a hard-drive shortage resulting from widespread flooding in Thailand is falling on small PC makers, who are raising computer prices to stem losses.
Seagate has been awarded US$525 million in arbitration in connection with a trade secrets case against Western Digital, which said it would challenge the ruling.
The devastating floods in Thailand will cause a 28 percent quarter-on-quarter drop in hard disk drive (HDD) production in the fourth quarter, potentially affecting notebook production in early 2012, research firm IHS iSuppli said on Monday.
The European Commission approved on Wednesday the acquisition by Seagate Technology of the hard disk drive (HDD) business of Samsung Electronics, after concluding that there will still be enough players in the market after the acquisition.
Western Digital said its primary manufacturing facility in Thailand was flooded over the weekend, with its secondary site also at risk, raising the possibility of a global shortage of hard disk drives (HDD) in the current quarter.
Severe floods in Thailand have disrupted production of electronics including hard disk drives and semiconductors, with a number of factories suspending operations.
The production of hard disks at Western Digital (WD) facilities close to Bangkok, Thailand, has been halted following severe flooding, the company said on Wednesday.
Moves by Seagate and Western Digital to acquire hard-drive companies are being probed by European regulators because of "competition concerns", the European Commission said on Monday.
Hitachi Global Storage Technologies on Tuesday introduced new Touro storage offerings that package local and online storage so data can be accessed locally or through the cloud via smartphones and tablets.
Western Digital announced today that it has entered into a definitive agreement to acquire Hitachi Global Storage Technologies (Hitachi GST), the disk drive arm of Hitachi Ltd., in a cash and stock transaction valued at about $4.3 billion.
If its proposed acquisition of Hitachi GST is successful, Western Digital will immediately gain status in the hard disk drive (HDD) enterprise market, where it has been striving to grow for the past couple of years.
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