Western Digital acquires SSD heavyweight sTec for $340 million

Western Digital to acquire sTec SSD company for $340 million.

@tracehagan
Published Mon, Jun 24 2013 8:32 PM CDT   |   Updated Tue, Nov 3 2020 12:22 PM CST

Western Digital, a company known for their magnetic hard drives, has signed a deal to acquire sTec, a company known for their solid state drives. Specifically, Western Digital has announced that HGST, a subsidiary of Western Digital, will make the acquisition for $340 million, allowing Western Digital to enter into the solid state market.

Western Digital acquires SSD heavyweight sTec for $340 million | TweakTown.com

Solid state storage in the enterprise will play an increasingly strategic role in the future of Western Digital. This acquisition is one more building block in our strategy to capitalize on the dramatic changes within the storage industry by investing in SSDs and other high-growth storage products.

The deal is expected to close in the third or fourth quarter of 2013, allowing Western Digital to hopefully enter the solid state market with the new technology sometime in 2014. Western Digital wants to add SSDs to its enterprise line-up at a time when big companies are ready to start implementing the technology.

NEWS SOURCE:venturebeat.com

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

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