Seagate To Acquire Controlling Share Of LaCie

Seagate, the world's biggest maker in hard disk drives and other storage technology, has announced that it would be purchasing consumer storage product manufacturer LaCie.

Seagate intends to purchase 64.5 per cent of the Paris-based company from LaCie chairman and CEO Philippe Spruch, pending approval from the appropriate government and regulatory bodies.

The offer, which prices each share at €4.05 (£3.24), values LaCie at approximately €146 million (£117 million) in total value. Following the sale, Spruch would be expected to join Seagate as head of the company's consumer storage products department.

The goal of the acquisition is to facilitate Seagate's growth in the consumer storage market in general and in European and Japanese markets in particular.

"This transaction would bring a highly complementary set of capabilities to Seagate, significantly expand our consumer product offerings, add a premium-branded direct-attached storage line, strengthen our network-attached storage business line and enhance our capabilities in software development," said Seagate chairman, president and CEO Steve Luczo in a statement.

The company, which currently manufactures the world's biggest hard disk, recently said it planned to ship drives with a whopping 60TB storage capacity by 2016.