Irvine, Calif. – Data and media storage products maker Western
Digital announced on Monday that it will acquire rival Hitachi Global Storage
Technologies, a unit of Japanese electronics firm Hitachi, in a deal valued at
$4.3 billion.
The resulting company will be called Western Digital and remain
headquartered in Irvine, Calif., under the leadership of CEO John Coyne.
Hitachi GST chief executive Steve Milligan will become president of Western
Digital.
Western Digital said the deal will create "a customer-focused
storage company, with significant operating scale, strong global talent and the
industry’s broadest product lineup backed by a rich technology portfolio."
Hitachi’s GST unit was established in 2003 in San Jose, Calif.
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