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Seagate to expand product line and capabilities in the growing consumer storage market through latest acquisition

Seagate Technology a provider of hard disk drives and storage solutions, and LaCie S.A, a manufacturer of consumer storage products, today announced an exclusive agreement with the intent for Seagate to acquire a controlling interest in LaCie.

The transaction is expected to combine two highly complementary product and technology portfolios, adding LaCie’s line of premium branded consumer storage solutions, network-attached storage solutions and software offerings to Seagate’s array of mainstream consumer storage products. The combination would accelerate Seagate’s growth strategy in the expanding consumer storage market, particularly in Europe and Japan, and add strong engineering and software development capabilities, as well as relationships with several key retailers, it was reported.

Philippe Spruch, chairman and CEO at LaCie will join Seagate and lead the company’s consumer storage products organisation. Reporting to him would be Patrick Connolly, who currently serves as VP and GM of Seagate’s retail group, as well as Pierre van der Elst, who currently serves as deputy GM of LaCie.

“Seagate has a strong commitment to the growing consumer storage market and bringing the most dynamic products to market. LaCie has built an exceptional consumer brand by delivering exciting and innovative high-end products for many years. This transaction would bring a highly complementary set of capabilities to Seagate, significantly expand our consumer product offerings, add a premium-branded direct-attached storage line, strengthen our network-attached storage business line and enhance our capabilities in software development,” said Steve Luczo, Seagate chairman, president and CEO. “We are also excited that Philippe, who is a true visionary and leader in the consumer storage business, would join Seagate to run our consumer storage products organisation.”

“With the proliferation of devices and content being shared and stored today, consumer demand for high-quality branded storage solutions continues to grow,” said LaCie’s Spruch. “We are excited about the potential for this combination to benefit customers and employees by creating significant scale and opening up new markets. We look forward to making the resources of a much larger company available to our customers around the world.”

 

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