Featured Articles

Snapdragon 400 is Qualcomm’s SoC for watches, wearables

Snapdragon 400 is Qualcomm’s SoC for watches, wearables

We wanted to learn a bit more about Qualcomm's plans for wearables and it turns out that the company believes its…

More...
Qualcomm sampling 20nm Snapdragon 810

Qualcomm sampling 20nm Snapdragon 810

We had a chance to talk to Michelle Leyden-Li, Senior Director of Marketing, QCT at Qualcomm and get an update on…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Nvidia GTX 980 reviewed

Nvidia GTX 980 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
PowerColor TurboDuo R9 285 reviewed

PowerColor TurboDuo R9 285 reviewed

Today we will take a look at the PowerColor TurboDuo Radeon R9 285. The card is based on AMD’s new…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 08 March 2011 10:34

WD aquires Hitachi Global Storage Technologies

Written by Rob Squires
wd_logo

$4.3 billion
Western Digital and Hitachi, announced that that they have entered into an agreement where Western Digital will acquire Hitachi Global Storage Technologies.  The deal is valued at approximately $4.3 billion.

Western Digital will acquire Hitachi GST for $3.5 billion in cash and 25 million WD common shares valued at $750 million, based on a WD closing stock price of $30.01 as of March 4, 2011. Hitachi will own approximately ten percent of Western Digital shares outstanding after issuance of the shares and two representatives of Hitachi will be added to the WD board of directors at the closing of the deal.

The transaction has been approved by the board of directors of each company and is expected to close during the third calendar quarter of 2011, subject to customary closing conditions, including regulatory approvals. Western Digital plans to fund the transaction with a combination of existing cash and total debt of approximately $2.5 billion.
The resulting company will retain the Western Digital name  and will also remain headquartered in Irvine, California. 

John Coyne will remain chief executive officer of Western Digital, Tim Leyden chief operating officer and Wolfgang Nickl chief financial officer. Steve Milligan, president and chief executive officer of Hitachi GST, will join Western Digital at the completion of the deal as president, reporting to John Coyne.


Last modified on Tuesday, 08 March 2011 11:05

Rob Squires

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments