Of Seagate Technology and Samsung Electronics announced the signing of a definitive agreement under which Seagate and Samsung will significantly expand and strengthen their strategic relationship.
The main points of agreement include:
Samsung will link its activities related to the production of hard drives with Seagate
Expand and strengthen existing patent cross-licensing agreements between companies
Samsung to supply NAND flash memory for solid state (SSD) drives Seagate
Seagate will supply hard drives for PCs, laptops and other consumer electronics, Samsung
Samsung will receive a significant share ownership in the Seagate
By the Board of Directors of Seagate to join executives from Samsung
The total amount of transactions and agreements is estimated at approximately $ 1.375 billion, which will move by Seagate to the Samsung as a 50% stake and 50% of the funds.
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