CFO of Seagate, Pat O’Malley, is looking to purchase a solid state drive manufacturer but will not confirm rumors that OCZ is who they have in mind. They then acknowledge that there is only one company who would make sense for them to acquire.
It is kind-of like you are trying to be stealthy with your interest in a girl in your classes – but it is all throughout the gossip circles. Also, you say you like tall blonde women and there is only two in your program; the other is Intel, nothing more needs to be said.
Reuters arranged a discussion with Pat O’Malley, the Chief financial officer (CFO) of Seagate. During the interview, O’Malley announced that Seagate would be interested in purchasing an SSD manufacturer with a strong presence in the enterprise market. O’Malley was further questioned about rumors of Seagate purchasing OCZ. The response was about as thinly veiled as a non-answer could be before it would be considered a confirmation.
“We look at all technology product providers but what I would say is that on the enterprise SSDs, there’s probably only one of them that really makes and significant money.”
And they certainly will make significant money now – as investors binge a little to own a few extra shares.
“We don’t do any comments on official policy on M&A ((Mergers and Acquisitions)) until it’s done.”
Update: As commentors and coworkers have mentioned — it would not be too far fetched for Seagate to be talking about companies such as FusionIO. Still — OCZ feels most likely to me.