WD Completes Acquisition of Hoya's Magnetic Media Operations
LAKE FOREST, Calif., June 30, 2010 /PRNewswire via COMTEX/ --
Western Digital Corp. (NYSE: WDC) announced today that it has completed the previously announced acquisition of the magnetic media sputtering operations of Hoya Corporation and Hoya Magnetics Singapore Pte. Ltd. for approximately $233 million. The acquisition will support anticipated growth in hard drive demand.
WD(R) has acquired the facilities, equipment, intellectual property and working capital of Hoya's media sputtering operations, based in Tuas, Singapore, as well as certain related equipment at Hoya's Nagasaka, Japan, research and development facilities. A multi-year commitment of Hoya glass substrate supply related to these operations was included in the agreement.
WD, one of the storage industry's pioneers and long-time leaders, provides products and services for people and organizations that collect, manage and use digital information. The company designs and produces reliable, high-performance hard drives and solid state drives that keep users' data accessible and secure from loss. Its advanced technologies are configured into applications for client and enterprise computing, embedded systems and consumer electronics, as well as its own consumer storage and media products.
WD was founded in 1970. The company's storage products are marketed to leading OEMs, systems manufacturers, selected resellers and retailers under the Western Digital(R) and WD brand names. Visit the Investor section of the company's website (www.westerndigital.com) to access a variety of financial and investor information.