IRVINE, Calif., Feb. 28, 2012 /PRNewswire/ -- Western Digital Corp. (NYSE: WDC) today reported that it has reached an agreement with Toshiba Corporation to divest certain assets to address the requirements of regulatory agencies that have conditionally approved or are continuing to review the company's planned acquisition of Hitachi Global Storage Technologies (HGST). The asset package covered by the agreement will enable Toshiba to manufacture and sell 3.5-inch hard drives for the desktop and consumer electronics markets and will enhance its ability to manufacture and sell 3.5-inch hard drives for near-line (business critical) applications. The divestiture transaction is subject to review by regulatory agencies in certain jurisdictions.
WD also reported that it has agreed, subject to completion of the divestiture transaction, to purchase Toshiba Storage Device (Thailand) Company Limited (TSDT). TSDT manufactured hard drives but has not resumed operations after the recent Thailand flooding. The principal assets of TSDT are its Thailand property, facilities and employees. Subject to completion of the transaction, WD plans to integrate these facilities and employees into its Thailand operations. The financial terms of the two agreements were not disclosed.
The closing of the transactions with Toshiba is conditioned on WD's closing of its planned acquisition of HGST, which remains subject to several closing conditions, including the receipt of certain remaining antitrust approvals. Subject to obtaining these approvals, the company is targeting the transactions with Toshiba to close in March 2012.
Latest News Posts
- The race is on for the No. 3 mobile OS position behind Android, iOS
- Valve taking requests from developers to ban disruptive gamers
- Microsoft announces Sydney, Australia for its new flagship store
- Batman: Arkham Knight DLC lets you play as Batgirl
- Tesla begins selling used Model S vehicles online
- Glary Utilities Pro for free
- HIS MusiX Air Wireless Bluetooth IPX7 Water Resistant Speaker Review
- Wake on lan problem
- GB G97x ud5 bk with Kingston Hyperx Predator SHPM2280p2H/240g pcie ssd
- Crucial C300 and M4 dont work together on Asrock Z68 Extreme4en3
- Habey Launches MITX-6770 Mini-ITX Motherboard
- HP Announces the Next Wave of 2015 Back to School PCs
- The Kave XTD 5.1 Analog Makes its Mark on May
- CALL OF DUTY: ADVANCED WARFARE ASCENDANCE AVAILABLE NOW ON PLAYSTATION AND PC
- ESL Mortal Kombat X launch event establishes title as a force in fighting game esports