Seagate Completes Acquisition Of Maxtor
Seagate Technology today announced that it has completed its acquisition of Maxtor Corporation. The combined company retains the Seagate name and continues to be listed on the New York Stock Exchange as "STX." Maxtor common stock has ceased to trade on the New York Stock Exchange.
The integration of former Maxtor operations into Seagate is expected to be substantially completed by early calendar 2007, with an earnings per share accretion target of 10-20% after the first year of combined operations.
Seagate estimates that approximately 50% of Maxtor's worldwide employees will be offered positions with the combined company moving forward, with the vast majority of those located in Asia Pacific manufacturing operations.
Adding to Seagate's own line of branded products, Seagate will retain a full range of Maxtor branded retail solutions.
Source: Seagate Technology
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