WD finalizes acquisition of Hoya's Magnetic Media Operations

Posted on Thursday, July 01 2010 @ 2:10 CEST by Thomas De Maesschalck

Western Digital announced it has completed its acquisition of Hoya's magnetic media stuttering operations:

LAKE FOREST, Calif., June 30 /PRNewswire-FirstCall/ -- Western Digital Corp. (NYSE: WDC) announced today that it has completed the previously announced acquisition of the magnetic media sputtering operations of Hoya Corporation and Hoya Magnetics Singapore Pte. Ltd. for approximately $233 million. The acquisition will support anticipated growth in hard drive demand.

WD® has acquired the facilities, equipment, intellectual property and working capital of Hoya's media sputtering operations, based in Tuas, Singapore, as well as certain related equipment at Hoya's Nagasaka, Japan, research and development facilities. A multi-year commitment of Hoya glass substrate supply related to these operations was included in the agreement.

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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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