Maxtor Buys Quantum Hard Drive Business
The $1 billion deal will create one of the largest hard drive manufacturing companies in the market.
Maxtor has announced that it will buy Quantum's hard drive group for approximately US$1 billion in stock. The move reinforces Maxtor's primary focus as a manufacturer of high-volume, low-cost IDE hard drives. After the deal, the combined company expects to match the gross revenue of Seagate, the largest company in the market. Quantum's core business will now shift to its remaining DLT division, which specializes in tape devices and networked storage.
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