Skip to main content

Western Digital's Deal to Acquire Hitachi's HDD Business Approved

Western DigitalWestern Digital has just secured conditional approval from the European Union's competition regulator to purchase Hitachi's hard disk drive business for a grand total of $4.3 billion. This was only made possible, however, after Western Digital agreed to sell several of its production operations.

Western Digital, which just so happens to be the world's second largest competitor in the hard disk drive (HDD) sector, and Hitachi, which just so happens to be the third largest, unveiled the deal back in March. The deal itself is aimed at giving the United States company a competitive edge in developing next-generation information storage technology.

This decision by the European Commission confirmed a story published last week by Reuters. According to European Union Commissioner Joaquin Almunia in a recent statement, "The proposed divestiture will ensure that competition in the industry is fully restored before the merger is implemented."

Western Digital did promise to sell essential production assets for the manufacturer of 3.5" disc drives, including a production plant, according to the Commission, which cited reduced competition in the sector after Seagate Technology bought Samsung Electronics' hard disk drive business recently. In addition to that the company agreed to transfer or license intellectual property rights to the business to be sold off. What's more is that Western Digital will also transfer staff and the supply of HDD components to the unit.

Western Digital is unable to complete the deal until it finds an appropriate buyer for the unit, which will then need to be approved by the regulator, according to the commission. If Western Digital is unable to find a suitable buyer, it stands to reason that this deal, although approved, will never actually come to fruition, which could be disappointing for both companies.

Source: Reuters - Western Digital cleared to buy Hitachi disk drive business


Find out what is going on in the Tech Army World.



What are the Top 10 Money Making Missions?

What other companies have joined and what do they do?

How do I join the
Tech Army Organization ?

Labels:

Comments

Post a Comment

Popular posts from this blog

How to Make Money on Fiverr (How I Make $4000 a Month)

Fiverr pays if you for hobbies you play with   Drawing ,   Designing,  Graphics, Art, SEO, Article, music and audio, digital marketing, fun and live-style,  How i make up to  4000 dollar ( 1261000 naira   )  I joined Fiverr  https://michaeltrendz.blogspot.com.ng/  on September 2015 and have generated over 6 million naira from it. Prior to joining, I used to get angry with my friend who was a freelancer on Fiverr.   We were running an offline joint-venture business back then. Every minute he could steal from time, he will quickly log in to Fiverr to do what I didn’t know. Back then, I always saw Fiverr as a $5 marketplace and I couldn’t imagine how he would always dedicate more time to his Fiverr account instead of our offline business which was making us good money…..(so I thought). I didn’t miss any opportunity to make joke of him for slaving away on Fiverr and he wasn’t deterred at all by it……possibly he’d be laughing at me in his...
Post a Comment
Read more

How to download youtube videos and watch later or offline

How do I download a video from youtube to my computer?  How do you download a video?  How can I download videos from YouTube for mobile? michaeltrendz -  how to download youtube video for offline How do you save a video from Facebook to your Android phone? HOW TO DOWNLOAD YOUTUBE VIDEOS FOR FREE There are numerous ways to download video from YouTube, but I will highlight the two ways I use most of the time to download any YouTube video. The two ways are namely: 1.      SAVEFROMNET Firstly, Go to YouTube and copy the video link of your choice, by right clicking if using a PC, but when using a phone just click on the page bar and copy the link. Next, Visit the website http://www.SAVEFROMNET.COM , it will show you something like this  Paste the video link from YouTube on the “ just insert a link ” and click the arrow in the front to download your video. Your video will start to download. 2.      SAVEITOFFLINE Repeat the same ste...
Post a Comment
Read more

ROAD CLOSURES: Arcadia Festival of Bands

On Saturday, November 19, 2016, the 63rd Annual Festival of Bands Parade will take place within the City of Arcadia. This year’s parade route will travel south on Baldwin Avenue from Huntington Drive, turn east on Duarte Road, turn north on El Monte Avenue and end on Campus Drive in front of the High School. During the parade Baldwin Avenue, Duarte Road, El Monte Avenue, and Campus Drive will be closed in these areas to vehicular traffic with the exception of residential traffic on Duarte Road between Lovell and El Monte Avenue. In this area, residents will be allowed to drive from their homes eastbound on Duarte Road and out of the area assisted by police personnel. There will be no street parking in the above areas on November 19, 2016 between 6:00am and 1:00pm. Temporary No Parking signs will be posted – vehicles parked in violation will be towed. The temporary road closures will be from 8:00am until approximately 1:00pm and may require you or your patrons to access your home or bus...
Post a Comment
Read more