Seagate Technology to Acquire Xyratex Ltd
Strengthens Capital Integration Strategy with Addition of Xyratex’s HDD Test Business
Expands Storage Portfolio with Acquisition of Xyratex’s Storage Systems Business
Seagate Technology plc (STX), a world leader in storage solutions, and Xyratex Ltd (XRTX), a leading provider of data storage technology, today announced that they have entered into a definitive agreement under which Seagate will acquire all outstanding shares of Xyratex in an all-cash transaction valued at $13.25 per share, or a total of approximately $374 million, including approximately $80 million in cash on Xyratex’s balance sheet as of August 31, 2013. The consideration represents a premium of approximately 27% per share over Xyratex’s stock price at the close of trading on December 20, 2013.
- Published: 23 December 2013
- Written by Editor