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© Seagate Electronics Production | October 20, 2011

Seagate wins acquisition approval

The European Commission has approved the acquisition of Samsung Electronics' HDD business by Seagate Technology for $1.4 billion. Seagate announced its plan for the acquisition in April.
Although the merger will further consolidate markets that are already highly concentrated, the Commission concluded that the transaction would not significantly impede effective competition in EEA or any substantial part of it.

”The Commission’s examination showed that there are separate worldwide markets for hard disk drives based on their end use application (such as desktop computers, mobile computers, servers),” the explained the commission in a statement. ”The Commission also identified a separate market for external hard disk drives in the European Economic Area, which is downstream from hard disk drives”.

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