Seagate acquires Xyratex for $374 million

Posted Dec 23, 2013

Seagate Technology has acquired Xyratex for $374 million ($13.25 per share in cash). Xyratex is known for building hard disk drive testing gear. Seagate said that this deal will strengthen their ?vertically integrated supply and manufacturing chain for disk drives and provide uninterrupted access to important capital equipment.? Xyratex will run as a standalone business under the ownership of Seagate.
[Source: GigaOM]