Seagate Technology, large hard drive maker, said Tuesday that they had closed the acquisition of the business hard drive Samsung Electronics for $ 1.4 billion.
Stephen j. Luczo, Seagate chief executive, said in a statement that the Seagate and Samsung have aligned product development to get new products ready faster. “This is an exciting time in the industry rapidly expanded opportunities in many markets, including mobile computing, cloud computing and storage of solid,” he said.
The acquisition will benefit the Seagate in light of Thailand this year, floods destroyed the factories that produce hard drive parts, said Steve Duplessie, an analyst with Enterprise Strategy Group.