December 20, 2011 12:56 pm EDT

Seagate shores up its hard drive business, finalizes Samsung purchase

It's taken the pair a fair few months to hammer down the details, but it's finally official: Seagate now holds the figurative keys to Samsung's hard drive business. According to the press release, Seagate will retain some Samsung employees as well as gaining access to the electronics manufacturer's solid-state storage for future products. Samsung will hold onto a 9.6 percent stake of Seagate and cash money said to total around $1.375 billion. You can still expect to see remnant Samsung hard drives floating around next year while Seagate decides how it's going to further its storage business -- hopefully involving more than just shrinking warranties.

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Seagate shores up its hard drive business, finalizes Samsung purchase originally appeared on Engadget on Tue, 20 Dec 2011 07:56:00 EDT. Please see our terms for use of feeds.

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Original Link: http://www.engadget.com/2011/12/20/seagate-shores-up-its-hard-drive-business-finalizes-samsung-pur/

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