Feeds

Seagate swallows Maxtor

Done deal

Top 5 reasons to deploy VMware with Tegile

In brief The largest hard drive vendor has just got larger.

Seagate has completed its merger with smaller rival Maxtor, after shareholders agreement yesterday. The deal, announced last December, values Maxtor at around $2bn.

Maxtor lost $102m on revenue of $881m in the first three months of this year, which means revenues are 17 per cent down and losses have increase fivefold from a year ago. Seagate, by contrast, has enjoyed better fortune in recent years. Its latest earnings saw revenue of $2.29bn and net income of $274m.

Maxtor's focus on retail and branding has left it vulnerable, while Seagate's OEM strengths saw it well placed to ride the demand for notebook drives. Almost 18 months ago, Maxtor admitted it had abandoned its attempt to build out a line of 2.5 inch drives used in notebook PCs.

Thirteen and a half thousand Maxtor staff join the 43,000 employed by Seagate.

MXO stock will cease trading as of next week. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.