Seagate Buys out Maxtor

[Big B]

First nVidia takes ULi, now Seagate's about to acquire Maxtor.

The transaction is expected to be completed in the second half of calendar 2006, subject to obtaining shareholder approvals and customary regulatory approvals. There is a termination fee of $300 million payable to Maxtor under certain conditions. The transaction is intended to be tax-free to Maxtor shareholders.

Seagate has a press release over here.

 

[ItalianStallion]

ATI must be scared shitless from when nvidia bought ULi. Maxtor and Seagate must be scaring Wester Digital (My favorite HDD company :)) Thanks for the news!!

 

[Addis]

Like the time adobe bought macromedia. Everyone's buying each other.

 

[StimpE]

Good for seagate, moving up in the industry.

 

[pelvis_3]

It's good news i guess, but now there's only going to be two industry leaders just like ATi and nVidia are, which can get a bit boring.

 

[StimpE]

I find it makes for more competition though, so it may be for our benefit.

 

[Big B]

There's still Samsung and Hitatchi, and Samsung tends to make pretty good stuff in general.