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Seagate Buys Maxtor
The sale affects only Quantum's hard drive operation, according to Quantum chief executive Michael Brown, who will join Maxtor's board. name, he said. Samsung Iomega References ^ Article from Seagate ^ MiniScribe assets acquisition ^ Article from CRN ^ maxtor.seagate.com Wikimedia Commons has media related to Maxtor. Acquisition by Seagate In a deal worth US$1.9 billion, Maxtor was acquired by its rival Seagate in 2006. Check This Out
With the new, larger Seagate poised to control nearly half of the global drive market, how long will it be before some of the other, smaller players join forces? How long Western Digital will be able to hold out against the combined forces of Seagate and Maxtor? The company also began negotiations with the EDB (Economic Development Board) of Singapore for favorable terms before committing to Singapore as its offshore manufacturing location. Surprisingly, one hard drive rival sees the merger as a good thing. "First and foremost, I think this is a very positive event for the drive industry.
Maxtor And Seagate
In February 1983, it shipped its first product to Convergent Technology and immediately received an additional $5.5 million in its second round of funding. The DBS (Development Bank of Singapore) agreed to provide financing to help grow the company in Singapore. Eric Bangeman Eric has been using personal computers since 1980 and writing about them at Ars Technica since 2003, where he currently serves as Managing Editor. Twitter @ericbangeman reader comments Share this story You must login or create an account to comment. ← Previous story Next story → Related Stories Sponsored Stories Powered by Today on Ars
Analysts surveyed by Thomson Financial anticipated a second-quarter profit of 51 cents per share, excluding charges, on sales of $2.19 billion. © 2013 The Associated Press. In 1996, the company completely redesigned its hard drive product line by introducing its DiamondMax series with a Texas Instruments digital signal processor. The company will operate under the Seagate name and with Seagate's executive team, and the company will be headquartered in Scotts Valley, California. http://arstechnica.com/uncategorized/2005/12/5816-2/ With the merger, consumers are left with Seagate, its main rival Western Digital, Hitachi, and Samsung for desktop drives.
Based on Seagate’s closing stock price on Tuesday, the deal values each Maxtor share at about $7.25, a 60 percent premium to Maxtor’s Tuesday closing price of $4.52 on the New Maxtor Internal Hard Drive Later products managed to sell well despite the initial problems. Popular stories currently unavailable Top videos Popular videos currently unavailable NBCNews.com sites & shows: TODAY Nightly News Meet the Press Dateline Morning Joe Hardball Ed Maddow The Last Word msnbc © Maxtor shareholders will receive 0.37 shares of Seagate common stock in exchange for each share of Maxtor they own.
Maxtor External Hard Drive
Seagate had a 21.4 percent share of the market, compared with Quantum's 17.7 percent. his comment is here Seagate, based in Scotts Valley, Calif., reiterated its second-quarter outlook which calls for $2.2 billion in revenue and earnings of 53 cents to 57 cents per share, excluding stock option expensing. CNET Reviews Best Products Appliances Audio Cameras Cars Networking Desktops Drones Headphones Laptops Phones Printers Software Smart Home Tablets TVs Virtual Reality Wearable Tech Web Hosting Forums News Apple Computers Deals It was pretty clear that the industry could not operate the way it had been without a structural change," said Matt Massengill, chief executive of Western Digital. Maxtor One Touch 2
Maxtor was getting close to bankruptcy in 1992 and closed its engineering operations in San Jose, California, in 1993. In the long term, the company said it expects to see annual savings between $120 million and $180 million within 18 to 24 months following the transaction's close. Prior to the closing, expected to occur in the second half of 2006, Seagate and Maxtor will operate as separate businesses. this contact form Sequel, a spin-off of Unisys, was not a disk drive manufacturer; rather, they specialized in refurbishing drives for the existing customer base.
A one-year warranty on a hard drive is inadequate, and Seagate did the right thing in the summer of 2004 when they reversed course and extended the standard warranty back to Maxtor Onetouch 4 The day's biggest tech news headlines include Snap debuting its IPO at $17 a share, Microsoft teasing its new mixed-reality platform and rumors that Spotify will soon offer a lossless option. After turnover in the executive staff, Maxtor decided it had made a mistake, and when Maxtor moved its headquarters to Milpitas, California, it gradually began to rebuild its engineering staff.
In 1983, the company established a liaison and procurement office in Tokyo, headed by Tatsuya Yamamoto.
Also, the combined company expects to save about $300 million a year in operating expenses after the first year. Fujitsu and Maxtor were in a dead heat for the third spot, with 13.5 percent each. In 1996, Maxtor introduced its DiamondMax line of hard drives with DSP-based architecture. Maxtor 1tb External Hard Drive Tech Industry Disk drive maker Maxtor announced today that it will buy Quantum's hard drive business in a deal that will create an industry-leading hard drive maker worth approximately $2 billion.
The new question is whether consumers will enjoy the same upward trends in storage capacity and downward movement in price now that there are fewer players fighting for market share. Seagate hopes the deal will add 10 percent to 20 percent to its earnings during the first year of the merger. Like other drive makers, falling PC prices have lowered Western Digital's margins even as demand for storage increases. "It?means there is one less company on the market floating bids to the navigate here Please help to improve this section by introducing more precise citations. (February 2008) (Learn how and when to remove this template message) An early Maxtor hard drive (right) with a modern
In 1983, Maxtor shipped its first product, the Maxtor XT-1140.