Seagate denies acquisition rumours

Posted on Thursday, Aug 30 2007 @ 14:22 CEST by Thomas De Maesschalck
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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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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