Samsung Electronics has signed a $1.375 billion deal with Seagate. The two companies are calling it a “strategic alignment.” Samsung will be combining its hard disk drive operations division with Seagate. Samsung will receive equity in Seagate and the two companies will have a cross-license patent agreement.
Samsung and Seagate have also made a NAND flash memory supply agreement deal. Seagate will be paying Samsung in 50% stock and 50% cash. Samsung will be receiving 45.2 million shares in Seagate and $687.5 million in cash.