WD Buying Hitachi Storage Division
Western Digital has reached agreement to purchase the Hitachi Global Storage Technologies subsidiary of Hitachi for $4.3 billion, the companies announced Monday.
The combined company will retain the Western Digital name, with John Coyne remaining CEO. The Hitachi subsidiary's CEO, Steve Milligan, will become WD's president when the transaction closes.
"The acquisition of Hitachi GST is a unique opportunity for WD to create further value for our customers, stockholders, employees, suppliers and the communities in which we operate," Coyne said in a statement.