Seagate announced Tuesday that it is purchasing Samsung’s hard disk drive (HDD) business. Seagate will pay Samsung $1.375 billion in equal parts stock and cash for the Samsung unit. Samsung will own about 9.6% of Seagate and the companies will extend and enhance existing cross-license patents. The companies said the deal will help to “better align their current and future product development efforts and roadmaps, accelerate time-to-market for new products and position the companies to better address rapidly evolving opportunities in mobile computing, cloud computing, and solid state storage””]
Source: https://www.darkreading.com/database-security/seagate-to-acquire-samsung-s-hdd-business