Samsung had been losing money in it’s hard drive making business of late so the solution of course was to sell it. Hard drive maker Seagate stepped up to the plate and purchased the division for a grand total of 1.4 billion dollars.
This deal with Samsung and Seagate will drive Seagates market share over the storage industry up to 40%, which will make it by far the largest. Now if Western Digital and Hitachi were to ever combine, they would control 50% of the market share.
This deal will allow Seagate access to Samsung NAND flash type chips and allow them to create better solid state devices. The acquisition will also help Samsung expand into green energy and healthcare so both companies benefit. [reuters]