Feeds

Chinese tech firm flirts with Seagate

Could Lenovo be muscling in on US-dominated HDD industry?

Internet Security Threat Report 2014

Updated Rumours are circulating in the heady world of hard disk drives (HDDs) that a Chinese tech firm wants to buy Seagate Technology.

The New York Times reported on Saturday that an unnamed Chinese technology company, widely believed to be computer maker Lenovo, had approached Seagate, the world's number one manufacturer of HDDs.

It’s a worry for US authorities who, according to the Times, would see such a deal as a risk to national security by exposing high technology to China.

Seagate CEO William D. Watkins, who declined to name the firm at the centre of the rumours, reportedly said that "the U.S. government is freaking out."

He added that while Seagate, which dominates around 30 per cent of the worldwide HDD market share, was not looking for a buyer, if the price was high enough it would be difficult for shareholders to say no to such an offer.

Shares in the California-based firm are currently trading at $24.89 on the New York Stock Exchange. ®

Update

Seagate has this afternoon squashed rumours of an imminent buy-out from a leading Chinese tech firm.

According to Reuters, Seagate CEO Watkins had been simply discussing the growing interest in HDD technology from companies based in China, Japan and Korea, where working with respective governments, HDD storage had become "a national agenda."

In a statement, Seagate said: "Just to be clear, Seagate has not received such an offer, and we are not trying to sell the company."

Beginner's guide to SSL certificates

More from The Register

next story
Docker's app containers are coming to Windows Server, says Microsoft
MS chases app deployment speeds already enjoyed by Linux devs
'Hmm, why CAN'T I run a water pipe through that rack of media servers?'
Leaving Las Vegas for Armenia kludging and Dubai dune bashing
'Urika': Cray unveils new 1,500-core big data crunching monster
6TB of DRAM, 38TB of SSD flash and 120TB of disk storage
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
SDI wars: WTF is software defined infrastructure?
This time we play for ALL the marbles
Windows 10: Forget Cloudobile, put Security and Privacy First
But - dammit - It would be insane to say 'don't collect, because NSA'
Oracle hires former SAP exec for cloudy push
'We know Larry said cloud was gibberish, and insane, and idiotic, but...'
Symantec backs out of Backup Exec: Plans to can appliance in Jan
Will still provide support to existing customers
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 cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.