Western Digital, a company known for producing hard drives and storage solution devices, have announced that they will be acquiring one of their competition, Hitachi Global Storage Technologies, for $4.3 billion. Back in 2005 Seagate acquired Maxtor for $2 billion, so this is not something that is new to the HDD industry. Endgadget points that it's hard to say what this acquisition will mean with regards to pricing and competition. We will have to see what the future lies then.
"Western Digital (NYSE: WDC) and Hitachi, Ltd. (NYSE: HIT / TSE:6501) announced today that they have entered into a definitive agreement whereby WD will acquire Hitachi Global Storage Technologies (Hitachi GST), a wholly-owned subsidiary of Hitachi, Ltd., in a cash and stock transaction valued at approximately $4.3 billion. The proposed combination will result in a customer-focused storage company, with significant operating scale, strong global talent and the industry's broadest product lineup backed by a rich technology portfolio."
Source: Engadget
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