Wednesday, April 28, 2010

Western Digital Buys Hoya's Magnetic Media Operations

Lake Forest-based disk drive maker Western Digital said late Tuesday evening that it has agreed to buy the magnetic media sputtering operations of Hoya Corporation and Hoya Magentics Singapore Pte. Ltd. The deal is worth approximately $235M in cash. WD said the acquisition will solidify the firm's access to glass substrates for its 2.5-inch hard drive business. WD said the acquisition includes facilities, equipment, intellectual property, and working capital of Hoya's media sputtering operations in Singapore, as well as some equipment at Hoya's Nagasaka, Japan R&D facility.