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Samsung’s HDD division going to Seagate!
Seagate and Samsung have just announced that Seagate will be taking over Samsung’s hard drive division. To do this, Seagate will pay Samsung USD 1.375bn, half of which will be in shares. Samsung will then own around 9.6% of Seagate.
Indeed this agreement goes much further than the simple sale of Samsung’s HDD division because in addition the two companies have extended their cross-license agreement. At the same time, supply agreements have been signed defining the supply of Samsung flash memory to Seagate and the supply of Seagate hard drives to Samsung.
This sale comes following the announcement of the sale of Hitachi Storage to Western Digital in March. If you look at the iSuppli figures for the fourth quarter, Western and Hitachi make up 32% and 18% of the market share respectively, making for 50% in total. Seagate’s total market share was 29%, to which they are now adding Samsung’s 10%.
It remains to be seen who will make the best offer for the remaining 11%, which is held by Toshiba, who, to recap, bought the Fujitsu HDD division in 2009.
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