Thursday, June 28, 2007

Western Digital Acquires Komag For $1B

Lake Forest-based Western Digital Corporation said Thursday afternoon that it is in a definitive agreement to acquire Komag, Incorporated, a supplier of thin-film disks for the disk drive industry. Western Digital said it will pay $1B in cash for the firm, worth $32.25 in cash per share of Komag's stock. According to Western Digital, the acquisition of Komag will strengthen the firm's position as a hard drive maker. Komag's media is used as a major component of Western Digital's hard disk drive products. Western Digital is a manufacturer of hard drives used for data storage.