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Seagate denies acquisition rumours

Posted on Thursday, August 30 2007 @ 14:22:43 CEST by

Seagate announced that speculation of a Chinese firm interested in buying the HDD maker isn't true. The firm says it had received no such offer and that there's no intention to sell:
The New York Times reported this month that a Chinese technology firm had made overtures to Seagate, citing an interview with Chief Executive William Watkins.

But the U.S. disk drives giant said in a statement on Tuesday that Watkins had actually referred to growing interest in disk drives technology from companies in China, Japan and Korea, which he said had made disk drive storage "a national agenda".

"Just to be clear, Seagate has not received such an offer and we are not trying to sell the company," Seagate said in a corporate statement provided to Reuters on Tuesday.
Source: Reuters



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