Menu
Western Digital acquires Hitachi Global Storage Technologies

Western Digital acquires Hitachi Global Storage Technologies

Western Digital has announced the acquisition of Hitachi Global Storage Technologies, a transaction valued at approximately US$4.3 billion. Under the terms of the agreement, WD will acquire the Hitachi subsidiary for $3.5 billion in case and 25 million WD common shares valued at $750 million, based on a WD closing stock price of $30.01 on 4 March 2011. With this deal, Hitachi will own approximately 10 percent of WD shares and will be added to the WD board of directors. The deal has been approved by the boards of both companies and is expected to close during the third quarter of 2011. “The acquisition of Hitachi GST is a unique opportunity for WD to create further value for our customers, stockholders, employees, suppliers and the communities in which we operate,” said John Coyne, president and chief executive officer of WD. “We believe this step will result in several key benefits and enhanced R&D capabilities, innovation and expansion of a rich product portfolio, comprehensive market coverage and scale that will enhance our cost structure and ability to compete in a dynamic marketplace.” The company that will result from this deal will retain WD’s name and stay headquartered in California. John Coyne will remain chief executive officer of WD, with Tim Leyden as COO and Wolfgang Nickl as CFO. Steve Milligan, president and CEO of Hitachi GST, will join WD at closing as president, reporting to John Coyne.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags western digitalhitachi

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments