In Seagate Technology has announced the closing of the transaction to acquire the hard disk drive (HDD) business of Samsung Electronics Co, Ltd.
Under the terms of the transaction, Seagate has gained select elements of Samsungs HDD business, including assets, infrastructure and employees that enable Seagate to drive scale and innovation.
These assets include Samsungs M8 product line of high-capacity, 2.5-inch HDDs. Samsung employees joining Seagate include a number of senior managers and design-engineering employees from Samsung's Korea facility, who will focus on development of small form-factor products for the mobile compute market.
NY Park, senior vice president and general manager, will oversee Seagates product development activities in Korea and serve as country manager of the Korea design center, reporting to Bob Whitmore, Seagates executive vice president and CTO.
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.
This transaction was announced in April 2011 along with a series of other agreements between Seagate and Samsung. Seagate is supplying disk drives to Samsung for PCs, notebooks and consumer electronics devices. Samsung is supplying its market-leading semiconductor products for use in Seagates enterprise solid state drives (SSDs), solid-state hybrid drives and other products. The companies have also extended and enhanced their existing patent cross-license agreement and have expanded cooperation to co-develop enterprise storage solutions.
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