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Seagate Acquires Samsung's Hard Disk Drive Business Unit

Storage solutions provider Seagate has announced it has completed the acquisition of Samsung's Hard Disk Drive business unit.

The company informed in a press release it had acquired a mix of assets, infrastructure and employees under the terms of the deal - to scale its existing product line.

Seagate stated that as a part of the acquisition, it had acquired Samsung's M8 2.5 inch HDD line which offers high storage capacity.

The company also stated it had gained several senior managers and design engineers from Samsung's facility in Korea who would now develop storage solutions for mobile devices.

"Together, Seagate and Samsung have aligned our current and future product development efforts and roadmaps in order to accelerate time-to-market efficiency for new products and position us to better address the increasing demands for storage," said Steve Luczo, Seagate chairman, president and CEO.

"It is an exciting time in the industry with rapidly evolving opportunities in many markets including mobile computing, cloud computing, and solid state storage," he added. This is an exciting time for the company as it moves towards the future.