Finally, Western Digital announced it was going to purchase Hitachi GST for $ 1.4 billion the deal is done, but merely after conditions imposed by three different authoritarian agencies have been met.
The company said in a statement late Thursday that it concluded the purchase of Viviti Technologies, formerly Hitachi Global Storage Technologies, and effective March 8 for US$3.9 billion in cash and 25 million shares of its frequent stock valued at concerning $0.9 billion.
Hitachi currently owns 10 percent of Western Digital’s shares outstanding. Western Digital has paid regarding $392 million more in cash as part of an adjustment to the purchase agreement.
Western Digital will operate with WD Technologies and HGST as totally owned subsidiaries, with total revenue in 2011 of $15 billion.
Western Digital said that “Similar to successful multi-brand models in other industries, the two subsidiaries will compete in the marketplace with separate brands and product lines while sharing common values of customer delight, value creation, consistent profitability and growth.”