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Seagate Completes Acquisition of Dot Hill Systems

Posted: Oct 6, 2015 11:14 pm | Business, Financial & Legal Press Releases | Stock Ticker: NASDAQ:HILL, NASDAQ:STX, NASDAQ:NDAQ

Seagate Technology plc, a world leader in storage solutions, today announced it has completed its previously announced acquisition of Dot Hill Systems Corp., a trusted supplier of innovative software and hardware storage systems.


Under the terms of the definitive agreement signed between Seagate and Dot Hill, an indirect wholly owned subsidiary of Seagate commenced a tender offer for all of the outstanding shares of Dot Hill in an all-cash transaction valued at $9.75 per share, or a total of approximately $696 million on a fully-diluted equity value basis.


The tender offer and the second step merger contemplated by Seagate's definitive agreement with Dot Hill were completed on October 6, 2015. As a result, Dot Hill has become an indirect wholly owned subsidiary of Seagate and will no longer be listed for trading on the NASDAQ Global Market.

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