News

Western Digital gets approval to take over Hitachi’s hard drive business

Western Digital has secured approval from the European Union regulator of market competition than will enable it to now go ahead and complete the take over of Hitachi’s hard drive manufacturing business. Western Digital will be purchasing all of Hitachi’s hard drive assets for $4.3 billion. “The proposed divestiture will ensure that competition in the industry is fully restored before the merger is implemented,” EU Commissioner Joaquin Almunia said in a statement. This statement relates to what we saw earlier with Western Digital signing some deals with Toshiba to sell off and lease some of their own assets. Western Digital had this to say about the matter:

Western Digital Corp. (NYSE: WDC) and Hitachi, Ltd. (NYSE: HIT / TSE:6501) yesterday announced that having obtained all required regulatory approvals for WD’s acquisition of Viviti Technologies Ltd. (holding company of Hitachi Global Storage Technologies), they expect the acquisition to close on March 8, 2012. WD and Hitachi will provide more information upon closing of the transaction.

Source: PR

Ryan Martin

Disqus Comments Loading...

Recent Posts

Nvidia’s GeForce RTX 5090 Possible Price Revealed

According to a new report, the GeForce RTX 5090 GPU will be very expensive. It…

11 hours ago

AMD Krackan Processor with 6 Zen 5 and Zen 5c Cores for Budget AI Laptops Leaked

A new AMD processor in the form of an engineering model has been leaked in…

11 hours ago

SK Hynix Begins Production of First 321-Layer NAND Chips

SK Hynix has claimed to be the first company to mass-produce 321-layer NAND memory chips.…

11 hours ago

Trust Gaming GXT 609 Zoxa 2.0 PC Speakers

SOUNDS GREAT – Full stereo sound (12W peak power) gives your setup a booming audio…

15 hours ago

PowerA Wired Controller for Nintendo Switch

Special Edition Yoshi design Ergonomic controller shape with Nintendo Switch button layout Detachable 10ft (3m)…

15 hours ago

Logitech G Saitek PRO Flight Rudder Pedals

Fluid Motion: These flight rudder pedals are smooth and accurate that enable precise control over…

15 hours ago