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Seagate finishes buying Samsung's hard drive business
Seagate announced the closing of the transaction to acquire the hard disk drive (HDD) business of Samsung.
Under the terms of the transaction, Seagate has gained select elements of Samsung's HDD business, including assets, infrastructure and employees. This includes Samsung's leading 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.
N.Y. Park, senior vice president and general manager, will oversee Seagate's product development activities in Korea and serve as country manager of the Korea design centre, reporting to Bob Whitmore, Seagate's executive vice president and CTO. 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 Seagate's 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.