Seagate Completes Acquisition of LaCie

Seagate confirmed that it has closed the acquisition LaCie, which will give the company a stronger position in the retail market.

At this time, Seagate holds only 64.5 percent of the company, but intends to acquire at least 30.5 percent more from other shareholders, which apparently have not agreed to a sale yet.

Philippe Spruch and his affiliate have received $5.01 per share, but will get another 15 cents per share, if Seagate will hold at least 95 percent of the share capital and voting rights of LaCie within six months. To achieve this goal, Seagate has increased its offer to shareholders to $5.57 per share. Ay $5.01 per share, the purchase price of LaCie was about $186 million, which includes all assets as well as $65 million in cash.

Philippe Spruch will join Seagate and will be responsible for Seagate's consumer storage business.

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