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Samsung Electronics will sell its hard-disk drive operations to Seagate Technology in a US$1.375 billion deal that will create strong links between the two companies, they said Tuesday.
The deal stands to solidify Seagate's position as the world's second-largest maker of hard disk drives and comes less than a month after Hitachi GST said it would buy market leader Western Digital. If both deals go through, the hard disk drive market will have just three players by the end of the year, the other being Toshiba.
Seagate will pay around $1.375 billion for Samsung's hard-disk operations, half in cash and half in Seagate shares.
