TweakTown
Tech content trusted by users in North America and around the world
6,137 Reviews & Articles | 39,433 News Posts
Weekly Giveaway: Win an Antec Case, PSU and Cooler (Global Entry!)

Seagate and Samsung join forces, plan to take over the HDD world

Seagate and Samsung announce Broad Strategic Alignment

| Storage News | Posted: Apr 19, 2011 10:01 am

It has been confirmed - Samsung are set to combine their Hard Disk Drive Operations with Seagate. Samsung set to receive significant equity ownership in Seagate while extending and enhancing the existing cross-license agreement between both companies. Included is a NAND flash memory supply agreement in which Samsung will provide Seagate with market-leading semiconductor products for use in Seagate's enterprise solid state drives, solid state hybrid drives and other products.

 

TweakTown image news/1/9/19427_156_seagate_and_samsung_announce_broad_strategic_alignment.jpg

 

A disk drive supply agreement under which Seagate will supply disk drives to Samsung for PCs, notebooks and consumer electronics. Expanded cooperation between both companies to co-develop enterprise storage solutions. Finally, a shareholder agreement in which an executive from Samsung will be nominated to join Seagate's Board of Directors.

 

The combined value of the above transactions, agreements and love is worth approximately $1.375 billion USD which will be paid by Seagate to Samsung in teh form of 50-percent stock and 50-percent cash.

 

Related Tags

Further Reading: Read and find more Storage news at our Storage news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases