Seagate's acquisition of Samsung HDD business is now complete. Seagate will now own Samsung's M8 product line that manufactures high capacity 2.5" HDDs, senior managers and design engineers from Sammy's Korean facility and
This takeover was announced in April 2011 and costed Seagate $1.4 billion. Seagate will retain certain Samsung products under Samsung name for 12 months.
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"Together, Seagate and Samsung have aligned our current and future product development efforts and roadmaps in order to accelerate time-to-market efficiency for new products and position us to better address the increasing demands for storage," said Steve Luczo, Seagate chairman, president and CEO. "It is an exciting time in the industry with rapidly evolving opportunities in many markets including mobile computing, cloud computing, and solid state storage."
"The strategic relationship will open new opportunities for the two companies by mutually complementing each other's creative technology solutions for a broad diversity of IT applications," said Oh-Hyun Kwon, vice chairman of Device Solutions of Samsung Electronics.
This takeover was announced in April 2011 and costed Seagate $1.4 billion. Seagate will retain certain Samsung products under Samsung name for 12 months.
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