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The company will buy the data storage technology company at about 374 million dollar price Xyratex

Source: Internet
Author: User
Keywords Seagate acquisition
Tags business close closing closing price company computing data data storage
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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.

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