172@29@17@243!~!172@29@0@53!~!|news|technology|seagate-to-acquire-xyratex-1378053.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
Subscribe to PRO at just Rs.33 per month. Use code SUPERPRO
you are here: HomeNewsTechnology
Last Updated : Dec 26, 2013 01:20 PM IST | Source: BizTech2.com

Seagate To Acquire Xyratex

Strengthens capital integration strategy with addition of Xyratex's HDD test business.

Seagate Technology plc, the storage solutions provider, and Xyratex Ltd, a provider of data storage technology, have announced that they have entered into a definitive agreement under which Seagate will acquire all outstanding shares of Xyratex in an all-cash transaction valued at $13.25 per share, or a total of approximately $374 million, including approximately $80 million in cash on Xyratex’s balance sheet as of August 31, 2013. The consideration represents a premium of approximately 27 percent per share over Xyratex’s stock price at the close of trading on December 20, 2013.

Click here for full story
First Published on Dec 26, 2013 01:09 pm
Sections