Deals
Seagate to Buy Samsung’s Hard-Disk Unit Amid Demand Slump
This article is for subscribers only.
Seagate Technology Plc agreed to buy Samsung Electronics Co.’s computer hard-disk drive business for $1.38 billion in cash and stock as shrinking sales accelerates consolidation in the industry.
Seagate offered 45.2 million shares valued at $687.5 million and the remainder in cash, the companies said today in a joint statement. They also agreed to supply each other with electronic-storage devices as part of a strategic partnership.