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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.

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First Published on Dec 26, 2013 01:09 pm