Offer props up sTec stock by over $3 per share in one trading day
Hard drive manufacturer Western Digital has made an offer for solid-state drive manufacturer sTec. The offer for $6.85 per share is worth about $340 million, and represents a 91 percent increase to the stock's Friday price. The sale is expected to close, pending regulatory concerns, by the end of 2013.
SSD Form Factor Working Group aims to improve SSD
A newly-formed SSD Form Factor Working Group has been formed, with the aim of bringing out a PCI Express-based SSD standard. Made up of promoter members Dell, EMC, Fujitsu, IBM and Intel, the group will focus on enterprise customers who need ever-higher performance storage that is cost effective and easy to use. While PCIe based SSDs are available now, they aren't simple and are usually reserved for servers, workstations and very high-end gamers.
Seagate drops Stec suit
Hard drive and flash-based memory maker Seagate announced on Thursday that is has dropped its patent suit against competitor Stec and that Stec has likewise dropped its countersuit, Forbes reports. Seagate said in a statement that pursuing the matter is no longer cost-efficient and the recent poor economic conditions have slowed Stec's sales of the technology that was being disputed in the lawsuit.
Seagate vs. STEC
Seagate has begun the first of what may be several lawsuits against makers of flash memory, show filings from the US District Court in San Francisco. It has accused STEC, formerly known as Simple Technology, of violating four patents it owns, connected to the creation of flash memory -- should it win, Seagate could be granted an injunction against STEC products as well as unspecified damages. Seagate CEO Bill Watkins argues that compensation would be well-due, as it has invested heavily in developing technology for SSD drives, and it has tried to persuade other companies to license its patents.