Seagate to Acquire Xyratex for HDD Testing

Seagate Technology agreed to acquired Xyratex (NASDAQ: XRTX), a developer of hard disk drive (HDD) capital test equipment, in an all-cash transaction valued at $13.25 per share, or a total of approximately $374 million, including approximately $80 million in cash on Xyratex’s balance sheet.

Seagate said the acquisition will strengthen its vertically integrated supply and manufacturing chain for disk drives and ensure uninterrupted access to important capital equipment. The acquisition also expands Seagate’s storage solutions portfolio by adding Xyratex’s enterprise data storage systems and high-performance computing business. Seagate will operate this business as a standalone entity and will focus on opportunities to improve and expand the business.  

http://www.seagate.com/about/newsroom/press-releases/seagate-to-acquire-xyratex-master-pr/