While it is not a true merger or sale, it seems that the operations side of Samsung’s HDD branch is being pruned off and sold to Seagate for over $1billion of cash and shares. The reports inidicate this will be more of a partnership, with Samsung continuing to develop technologies for HDD and retaining full ownership of its flash based storage assets. Drop by The Tech Report for more.
"Seagate and Samsung have announced a "broad strategic alignment," as part of which Seagate will take over Samsung’s hard-drive operations in exchange for a cool $1.375 billion (paid half in cash, half in stock). The deal also involves a NAND flash memory supply agreement as well as "expanded cooperation" on enterprise storage."
Here is some more Tech News from around the web:
- Seagate buying Samsung HDD department rumor unlikely to occur shortly @ DigiTimes
- Cellphone battery mouse modification @ Hack a Day
- Intel will leave McAfee alone, but it can secure our chips @ The Inquirer
- Apple’s IOS 4.3.2 gets jailbroken within a week @ The Inquirer
- Office 365 enters public beta @ Ars Technica
- Intel Thunderbolt may impact USB 3.0 @ DigiTimes
- Test Driving The QEMU-KVM KMS Driver @ Phoronix