Feeds

Chinese tech firm flirts with Seagate

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

Beginner's guide to SSL certificates

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."

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
IT crisis looming: 'What if AWS goes pop, runs out of cash?'
Public IaaS... something's gotta give - and it may be AWS
Linux? Bah! Red Hat has its eye on the CLOUD – and it wants to own it
CEO says it will be 'undisputed leader' in enterprise cloud tech
Oracle SHELLSHOCKER - data titan lists unpatchables
Database kingpin lists 32 products that can't be patched (yet) as GNU fixes second vuln
Ello? ello? ello?: Facebook challenger in DDoS KNOCKOUT
Gets back up again after half an hour though
Hey, what's a STORAGE company doing working on Internet-of-Cars?
Boo - it's not a terabyte car, it's just predictive maintenance and that
Troll hunter Rackspace turns Rotatable's bizarro patent to stone
News of the Weird: Screen-rotating technology declared unpatentable
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.