Wednesday, March 7, 2012

WD, Hitachi Storage Acquisition To Close Thursday

Irvine-based disk drive maker Western Digital Corp. and Hitachi, Ltd. said this morning that the two are expecting their deal for the sale of Hitachi's HDD business to WD to close on March 8th. WD and Hitachi said the two have obtained all of the required, regulatory approvals for the acquisition of Viviti Technologies Ltd., the holding company for Hitachi Global Storage Technologies. The approvals have been a long time coming for the deal, which was originally announced in March of 2011. At the time, WD and Hitachi said that Western Digital would acquire Hitachi Global Storage Technologies for $4.3 billion. The two firms said they will provide more details on the transaction after the close.