Western Digital to Acquire Hitachi GST for US$4.3 Billion
The consolidation of players in the storage industry takes another step with the recent announcement that Western Digital is buying over Hitachi GST for around US$4.3 billion. This effectively leaves Western Digital and rival Seagate as the two biggest players in storage now, with Samsung, Fujitsu and Toshiba making up the rest.
IRVINE, Calif. and SAN JOSE, Calif. - Mar. 7, 2011 - Western Digital and Hitachi, Ltd. announced today that they have entered into a definitive agreement whereby WD will acquire Hitachi Global Storage Technologies (Hitachi GST), a wholly-owned subsidiary of Hitachi, Ltd., in a cash and stock transaction valued at approximately $4.3 billion. The proposed combination will result in a customer-focused storage company, with significant operating scale, strong global talent and the industry's broadest product lineup backed by a rich technology portfolio.
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