Seagate to buy majority of LaCie for $186 million
updated 12:52 pm EDT, Wed May 23, 2012
Seagate buy will include LaCie CEO coming over
Storage drive makers Seagate and LaCie on Wednesday announced an agreement that will see the former buy a majority, 64.5-percent share in LaCie. The deal will see about $186 million change hands, and the product portfolios will be merged. The focus will also be on expanding the storage market in Europe and Japan.
When the deal is done, which is expected to be late in 2012, it will include LaCie CEO Philippe Spruch coming over to Seagate as the new head of the consumer storage products division. Spruch and an unnamed affiliate hold the 64.5 percent of LaCie shares, with Seagate offering them 4.05 euros per share in cash. Seagate will also make an offer for the remaining shares of LaCie upon the successful completion.
The trade is still subject to antitrust government approvals in the US, France, and Germany.
