Fujitsu Sells Hard Drive Biz To Toshiba

Fujitsu and Toshiba have announced today that they’ve signed a deal to transfer Fujitsu’s hard drive business to Toshiba:

Fujitsu will facilitate the transfer by bringing its HDD-related businesses and functions together in a new company. Toshiba will acquire about an 80 percent stake in this company and make it a Toshiba Group subsidiary. In order to promote a smooth transfer, Fujitsu will continue to hold a stake of under 20 percent in the new company for a certain period of time, after which it will become a wholly owned subsidiary of Toshiba.

Oh, there’s more. Toshiba then has plans for world domination to expand its market share by 2015. I guess that’s a reason for Seagate to be worried.

Expect this deal to close quickly.

Leave a Reply

%d bloggers like this: