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Seagate Buys LaCie for $186 Million
Wednesday, May 23, 2012 - 2:49 PM EST
Posted by: Staff

Seagate today announced that it is buying LaCie for $186 million. The deal brings LaCie's line of premium-branded storage solutions, network-attached storage solutions and software offerings to Seagate's array of mainstream consumer storage products. It also accelerates Seagate's growth into the consumer storage markets in both Europe and Japan.

"Seagate has a strong commitment to the growing consumer storage market and bringing the most dynamic products to market. LaCie has built an exceptional consumer brand by delivering exciting and innovative high-end products for many years. This transaction would bring a highly complementary set of capabilities to Seagate, significantly expand our consumer product offerings, add a premium-branded direct-attached storage line, strengthen our network-attached storage business line and enhance our capabilities in software development," said Steve Luczo, Seagate chairman, president and CEO. "We are also excited that Philippe, who is a true visionary and leader in the consumer storage business, would join Seagate to run our consumer storage products organization."

"With the proliferation of devices and content being shared and stored today, consumer demand for high-quality branded storage solutions continues to grow," said Philippe Spruch, LaCie's chairman and CEO. "We are excited about the potential for this combination to benefit customers and employees by creating significant scale and opening up new markets. We look forward to making the resources of a much larger company available to our customers around the world."

The deal is expected to be completed in the third quarter of this year.



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