Seagate Buys Samsung's Hard Disk Unit
Seagate has purchased Samsung's hard disk drive business for $1.4 billion, the companies announced. The deal is in both cash and stock.
The companies also announced that they will expand and extend their patent cross-license agreement.
“We are pleased to strengthen our strategic relationship with Samsung in a way that better aligns both companies around technologies and products,” Steve Luczo, Seagate's chairman, president and CEO, said in a statement.