Seagate agrees to buy Samsung's HDD unit, $1.4 billion deal


It's official: Samsung Electronics will sell its hard disk drive business to U.S.-based Seagate Technology, in a move that will help the company focus on more profitable areas such as next-generation displays, NAND chips and solar cells. As part of the 'broad strategic alignment' announced this morning, Samsung will get $1.375 billion in cash and stock for combining its hard disk drive operations into Seagate, receiving equity ownership of about 10% in the world's second largest hard drive vendor and enhancing the current patent cross-license agreement between the two companies.

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