Seagate purchase Maxtor

Seagate and Maxtor has together announced that Seagate will take over all of Maxtor assets in a stock transaktion. The new company will be owned to 84% by Seagate’s earlier stock holders and the rest by Maxtor’s previous holders. This is of course a part of Seagate’s plan to really establish itself as the leading harddrive manufacturer on the market. Through the acquisition Seagate hopes to become more effective and expand its assortment, but above all improve its current. Maxtor will mend into Seagate and the brand Maxtor will disappear to promote Seagate.

“We believe this combination offers an exciting opportunity for our two companies to come together in a transaction that maximizes value for our stockholders, through the combination of an attractive premium and through future value enhancement of the combined company’s operations,” said Dr. C.S. Park, Maxtor chairman and CEO. “Together, we will leverage our combined technical resources to deliver to our customers an even more compelling and diverse set of products, and get them to market more quickly and cost effectively.”

Source: SeagateMaxtor