it has agreed to acquire Fabrik, Inc., a privately-held supplier of
personal and professional storage solutions. Fabrik, whose leading
storage brands include G-Technology and SimpleTech, strategically
positions Hitachi in the fast-growing external storage business.
Industry analyst firm IDC expects worldwide personal storage device
shipments to grow from approximately 52 million in 2008 to 123 million
in 20121. Financial details of the transaction were not disclosed.
Closing of the acquisition, which is subject to customary conditions,
is expected to occur early in the second quarter of 2009.
Fabrik's business will continue intact and form the core of Hitachi
GST's newly-formed external storage business. Hitachi GST will fully
support the G-Technology and SimpleTech product lines, building upon
their success and differentiation in the market. The combined company
will also leverage operational, technical and product development
resources, distribution channels and global reach to accelerate
delivery of a full portfolio of traditional hard drives, solid state
drives and branded personal and professional storage products.
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