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Seagate and DensBits Announce Strategic Agreement for Development of SSDs

Seagate Technology plc the worldwide leader in hard disk drives and storage solutions, and DensBits Technologies Ltd (“DensBits”) the inventor of the world's first Memory ModemTM have announced today a strategic agreement for the development of low-cost, high-performance Solid State Drives (“SSD”) for the consumer and enterprise markets. In conjunction with the agreement, Seagate has made an undisclosed equity investment in DensBits.

Seagate and DensBits are joining forces, to develop future products that are intended to provide customers with significant cost savings, extremely high reliability, and unparalleled performance. Under the agreement, DensBits’ Memory ModemTM controller technology will be integrated with Seagate’s various storage technologies to power a wide range of consumer and enterprise applications including 3 bits/cell (“TLC”) 1Xnm Flash-based consumer-grade SSD, and 2 bits/cell (“MLC”) 1x nm Flash-based enterprise-grade SSD.

Seagate and LaCie Announce Signature of Binding Share Purchase Agreement

Following their press release issued on May 23, 2012 announcing exclusive negotiations and the receipt on June 8, 2012 of the opinion of the employee representative body of LaCie S.A., Seagate Technology plc and LaCie announced today that Seagate, Philippe Spruch, LaCie’s chairman and CEO, and his affiliate, have entered into a binding share purchase agreement to purchase all of the shares of Philippe Spruch and his affiliate, representing 64.5% of the outstanding shares of LaCie for a provisional price of €4.05 per share (as may be adjusted downwards depending on the cash and debt position of LaCie at closing).

As previously announced, Ricol Lasteyrie & Associés have been appointed as independent expert by the Board of Directors of LaCie on June 23, 2012. The transaction has already received clearance from the US Antitrust Authorities but remains subject to regulatory approval in France (approval of foreign investments by the Ministry of Finance) and Germany (antitrust filing) and to other customary closing conditions.

Seagate Reinvents Backup for Your Digital Life

Seagate Technology plc., today introduced Backup Plus storage devices – its reinvented consumer storage product family that delivers the easiest setup, one-click backup and the ability to save and share your content on Facebook and Flickr.

Seagate Backup Plus hard drives are newly designed external storage that work interchangeably with both Windows and Apple computers and deliver new features to protect, share and save nearly every aspect of one’s digital life. These products come loaded with the new hassle-free Seagate Dashboard software for one-click local backup making it easier than ever to eliminate excuses or apprehensions about backing up one’s most valuable digital content. Seagate Backup Plus products are the world’s first external hard drives to provide backup for content on social networks, such as Facebook and Flickr. Storing a local duplicate copy of photos from social networks is now as easy as backing up files on your computer. Seagate Backup Plus will provide the peace of mind that every aspect of one’s digital life is safe from loss.

SATA-IO Rolls Out USM Slim Specification for Thinner, Lighter External Storage

The Serial ATA International Organization (SATA-IO), the industry consortium dedicated to sustaining the quality, integrity and dissemination of Serial ATA (SATA) technology, today announced it has finalized a new version of its Universal Storage Module (USM) standard that enables consumers to simply and easily increase the storage capacity of their mobile devices. The USM Slim specification defines a thinner, 9 mm dimension, making it an ideal storage solution for ultrabooks, tablets and other portable devices.

Demand for thinner, lighter mobile devices often results in decreased native storage capacities, limiting the amount of content consumers can carry with them. The USM Slim specification allows manufacturers to develop external storage offerings that seamlessly pair with these thin and light devices so that consumers can still have instant access to their music, movies, photos and other content at any time or place. The smaller form factor now makes it possible for thinner CE devices to integrate the USM host connector or slot to accept the 9 mm module.

Seagate to Acquire Controlling Interest in LaCie

Seagate Technology plc the worldwide leader in hard disk drives and storage solutions, and LaCie S.A., a leading manufacturer of consumer storage products, today announced an exclusive agreement with the intent for Seagate to acquire a controlling interest in LaCie.

Seagate has offered to purchase from Philippe Spruch, LaCie's chairman and CEO, and his affiliate, all of their shares, representing 64.5% of the outstanding shares of LaCie. Following receipt of governmental approvals and the close of this transaction, Seagate would commence an all-cash simplified tender offer (followed as the case may be by a squeeze-out procedure) to acquire the remaining outstanding shares in accordance with the General Regulation of the French Autorité des Marchés Financiers (AMF).

Seagate To Demonstrate 12 Gb/s Drives At SCSI Trade Association's Technical Showcase

Seagate will demonstrate a variety of technologies at the SCSI Trade Association (STA) Technology Showcase this week aimed at improving the performance of servers, datacenters and cloud computing applications, including the first public demonstration of solid-state drives operating at 12 gigabits per second.

Seagate will show Pulsar.2 solid-state drives working with the new 12 Gb/s SAS standard at the showcase, taking place at the Hyatt Hotel in Santa Clara, Calif. on May 9, 2012. The new standard doubles the data throughput of industry-standard drives equipped with the enhanced SAS interface, enabling much faster server and storage solutions. The enhanced standard also fully maintains the rich data integrity, scalability, serviceability, and hot swappable protocol feature set that enterprises depend on to safeguard critical data, minimize costly downtime, and ensure infrastructures easily keep up with growing data storage demands.

Seagate Technology Announces $2.5 Billion Share Repurchase

Seagate Technology plc today announced that its Board of Directors has authorized the Company to repurchase up to $2.5 billion of its outstanding ordinary shares (the "April 2012 Authorization"). Seagate, as a result of the April 2012 Authorization and other current repurchase authorizations, currently has a total authorized unutilized capacity for repurchases of approximately $3.5 billion under these authorizations.

"The repurchase authorization reflects the confidence that the Board and the executive management team have in Seagate's ability to generate cash, while still investing in innovation and growth opportunities," said Steve Luczo, CEO of Seagate. "Importantly, it supports and is consistent with our ongoing focus on returning value to our shareholders."

Seagate Technology Reports Fiscal Third Quarter 2012 Financial Results

Seagate Technology plc today reported financial results for the quarter ended March 30, 2012. The company reported revenue of $4.4 billion, gross margin of 37%, net income of $1.1 billion and diluted earnings per share of $2.48. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported net income of $1.2 billion and diluted earnings per share of $2.64.

The company generated approximately $938 million in cash from operations, paid cash dividends of $112 million and used approximately $1.1 billion to repurchase 43.1 million shares of common stock and for the early retirement of debt.

Seagate Reaches 1 Tb Per Square Inch Milestone in HDD Storage with New Technology

Seagate has become the first hard drive maker to achieve the milestone storage density of 1 terabit (1 trillion bits) per square inch, producing a demonstration of the technology that promises to double the storage capacity of today's hard drives upon its introduction later this decade and give rise to 3.5-inch hard drives with an extraordinary capacity of up to 60 terabytes over the 10 years that follow. The bits within a square inch of disk space, at the new milestone, far outnumber stars in the Milky Way, which astronomers put between 200 billion and 400 billion.

Seagate Readies 500 GB Version of 9 mm-thick FreeAgent

Seagate is working on a new variant of the 9 mm-thick FreeAgent portable hard drive it launched back in April 2011. The new variant features a fast 7200 RPM drive, with a capacity of 500 GB. The original model had 320 GB capacity. Measuring 124 x 78 x 9 mm, and weighing 160 g, the drives take advantage of USB 3.0 SuperSpeed interface, with a single cable handling power and connectivity. The new 500 GB variant costs about $170, which is very high compared to the launch price of the 320 GB variant, which was around $99, but then you have to take into account the escalation of HDD prices across the industry since September 2011.
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