Samsung Sells HDD Division to..

**AgnesIO** · 19-04-2011, 11:55 AM

Seagate! They have paid Samsung $1.375b for the HDD division, plus other benefits to Samsung.

I personally own numerous Samsung HDDs - and I wouldn't be surprised if many of you do? Quite a big sale, maybe to cover the costs of the patent stuff with Apple? (joking

)

anyway, full article:

We're firmly of the belief that SSDs are our future and Samsung would seem to agree. The Korean electronics giant has just announced that it's selling its hard disk drive-manufacturing arm to Seagate Technology for a neat $1.375 billion in equal measures of cash and stocks. As a result, Samsung Electronics will own approximately 9.6 percent of Seagate and get to nominate one new member to join Seagate's Board of Directors, while the two companies have further agreed to deepen their strategic relationship with related cross-licensing and supply stipulations. Samsung will provision Seagate's solid state drives with NAND flash memory, whereas Seagate will furnish Samsung's PCs and consumer electronics products with hard disk storage. The deal is expected to complete in full by year's end and you can read all about it in Seagate's press release after the break.

http://www.engadget.com/2011/04/19/s...1-375-billion/