Fujitsu to Buy Toshiba’s HDD Business

February 19, 2009: Toshiba Corporation and Fujitsu Limited have announced that they have signed a memorandum of understanding on the transfer of Fujitsu’s hard disk drive (HDD) business to Toshiba.

Toshiba will acquire a stake of around 80 percent in the company and turn it into a new subsidiary, while Fujitsu will continue to hold the remaining 20 percent stake for an undisclosed period after the consolidation of the two firm’s HDD businesses, after which it will become a wholly owned subsidiary of Toshiba.

The joining of the two HDD firms will see Toshiba bolster its position on the market, particularly its already strong small form factor HDD business. It will also catapult Toshiba into a leading position on the enterprise HDD market for server and data storage system applications.

The two plan to complete the transaction in the first quarter of fiscal 2009.

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