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Western Digital's Deal to Acquire Hitachi's HDD Business Approved

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Western Digital has just secured conditional approval from the European Union's competition regulator to purchase Hitachi's hard disk drive business for a grand total of $4.3 billion. This was only made possible, however, after Western Digital agreed to sell several of its production operations. Western Digital, which just so happens to be the world's second largest competitor in the hard disk drive (HDD) sector, and Hitachi, which just so happens to be the third largest, unveiled the deal back in March. The deal itself is aimed at giving the United States company a competitive edge in developing next-generation information storage technology. This decision by the European Commission confirmed a story published last week by Reuters. According to European Union Commissioner Joaquin Almunia in a recent statement, "The proposed divestiture will ensure that competition in the industry is fully restored before the merger is implemented." Western Digital did promise to

Hitachi GTS Acquired by Western Digital for $4.3 Billion

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Every now and then in the computer world we actually do hear about things that do not involve Apple or anything Apple related. It is rare, yes, but it does happen. One such instance is that Western Digital, a company known for their hard drives, has officially bought out Hitachi GST for a pretty $4.3 billion. That's right, on Monday Western Digital told media outlets that they were buying Hitachi Global Storage Technologies for the equivalent of $4.3 billion. There were different things that comprised the entire deal which included a combination of $3.5 billion in cash with the addition of shares in the total amount of $50 million. Full terms of the deal included Western Digital's name remaining the same for the company and Hitachi GST CEO Steve Milligan joining Western Digital as President. CEO of Western Digital John Coyne argued to media sources that the move was primarily for scale. Western Digital and Hitachi Global Storage Technologies would form a larger competitor compa