Sign in with
Sign up | Sign in

Seagate Completes Acquisition of LaCie

By - Source: Seagate | B 9 comments

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.

 

Contact Us for News Tips, Corrections and Feedback

Display 9 Comments.
This thread is closed for comments
  • 3 Hide
    belardo , August 6, 2012 9:58 AM
    er... why? Don't they already have a retail department?

    Oh yeah, buy out a competitor... not to actually grow the retail channel.
  • 7 Hide
    maqsabre , August 6, 2012 10:03 AM
    and they're still not able to meet the demands,
    keep lying about shortages
  • 2 Hide
    Anonymous , August 6, 2012 10:11 AM
    Yet another Toms article that wasn't proof read! It's getting to beyond a joke over the last few years.
  • 1 Hide
    Mousemonkey , August 6, 2012 10:37 AM
    Quote:
    Yet another Toms article that wasn't proof read! It's getting to beyond a joke over the last few years.


    Quote:
    Yet another Toms article that wasn't proof read! It has gotten to be beyond a joke over the last few years.

    :whistle: 
  • -6 Hide
    Pennanen , August 6, 2012 11:32 AM
    SoLazyYet another Toms article that wasn't proof read! It's getting to beyond a joke over the last few years.

    You really dont have anything more important to care about? :D 
  • 0 Hide
    festerovic , August 6, 2012 5:07 PM
    My first failed HDD was a La Cie. 40 MB. It measured about 8x11x2"
  • 0 Hide
    mknabster , August 6, 2012 7:29 PM
    I wonder if this will allow Seagate to be more fashion-forward without the price hike.
  • 0 Hide
    eddieroolz , August 8, 2012 8:51 PM
    The consolidation of market continues, bringing everyone higher prices, less choices and shorter warranties...
  • 0 Hide
    Anonymous , August 22, 2012 3:37 AM
    That is not bad, it works.