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Said and done: Seagate earns Samsung HDDs division for $ 1.375 billion

After rumors emerged that Seagate would buy Samsung's HDDs division, the two companies have officially announced the terms of the deal they intend to enter into in the storage solutions segment. Still subject to review by United States regulatory agencies, it provides for a concession of all hard disk production facilities to the Americans, which will cost Seagate $ 1.375 billion.

Seagate logo

In return, Samsung will receive the HDDs it needs in the production of its notebooks, within the prevailing prices. In this way, the agreement benefits both sides: Koreans will be able to focus on developing NAND flash solutions to maintain competition with Toshiba, while Seagate will use the Asian market to insure Western Digital's areas, strengthened with the purchase of Hitachi. .

Samsung will also become one of Seagate's largest single shareholders, receiving 9.6% of the company's shares as part of the amount paid for the sale of its hard drive industry. Although there is a need for a review of the agreement by the US government, the terms signed by the two companies will come into force by the end of this year.