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Western Digital has signed an acquisition deal with Hitachi to buy the Japanese company’s Global Storage Technologies division for $4.3 billion.
The deal will see WD combine with Hitachi GST to offer a “customer-focused storage company, with significant operating scale, strong global talent and the industry’s broadest product lineup backed by a rich technology portfolio.” Meanwhile, Hitachi will pick up a ten per cent share in Western Digital.
“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 WD’s president and CEO, John Coyne.
“We believe this step will result in several key benefits; including 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.”
