Expand the storage business and improve the industrial chain

HDD maker Seagate local time said in Monday that the company would buy data storage technology company Xyratex at a price of about 374 million dollars, expand the storage business and improve the industrial chain. Seagate buys Xyratex price per share

December 24, according to the ABC Web site, the hard disk maker Seagate local time said Monday, the company will be about 374 million U.S. dollars to acquire data storage technology company Xyratex, expand storage business, improve the industrial chain.

Seagate bought Xyratex at $13.25 a share, 27% from the close of 10.45 U.S. dollars on the Friday closing price of Xyratex. In today's intraday trading, Xyratex shares rose $2.85 to $13.3, the highest in more than a year, and Seagate Rose 0.35 to $56.01.

Xyratex provides enterprise data storage services and equipment. Xyratex's enterprise storage systems and High-performance computing services will be integrated into its storage operations, and Xyratex's test equipment business will strengthen its supply and manufacturing chain, Seagate said.

Seagate's revenue for the latest fiscal year was $14.35 billion and Xyratex revenue of $1.16 billion, but analysts expect xyratex revenues to fall to about 840 million dollars in the fiscal year ending November 2013.