Samsung Inks $1.375 Billion Deal With Seagate On HDD Operations Sale And More

Samsung and Seagate this morning announced a broad ‘strategic alignment’ in a move to expand their existing relationship and more effectively counter competitor Western Digital.

The most important elements of the agreement include Samsung combining its hard disk drive operations into Seagate, receiving significant equity ownership in the HDD and storage solutions provider and enhancing the current patent cross-license agreement between the two companies.

The combined value of these transactions and agreements is approximately $1.375 billion USD, which will be paid by Seagate to Samsung in the form of 50% stock and 50% cash.

Source: http://techcrunch.com/2011/04/19/samsung-inks-major-1-375-billion-deal-with-seagate-on-hdd-operations-and-more/

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