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WD Completes Divestiture Of Assets To Toshiba Corporation

Discussion in 'News' started by btarunr, May 15, 2012.

  1. btarunr

    btarunr Editor & Senior Moderator Staff Member

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    Western Digital Corp. today announced that it has completed its divestiture of certain 3.5-inch hard drive assets to Toshiba Corporation, as required by regulatory agencies that conditionally approved the company's completed acquisition of Viviti Technologies Ltd. (formerly Hitachi Global Storage Technologies).

    The assets will enable Toshiba to manufacture and sell 3.5-inch hard drives for the desktop and consumer electronics markets and will enhance its ability to manufacture and sell 3.5-inch hard drives for near-line (business critical) applications.

    As part of its deal with Toshiba, WD also completed its purchase of Toshiba Storage Device (Thailand) Company Limited (TSDT), which manufactured hard drives prior to the recent Thailand flooding. The principal assets of TSDT are its Thailand property, facilities and employees, which WD plans to integrate into its Thailand operations. The financial terms of the two agreements were not disclosed.
     

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