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Seagate to acquire LaCie
Storage giant Seagate has announced intentions to buy controlling interest in LaCie, a boutique hard drive and storage company. Seagate has offered to purchase from Philippe Spruch, LaCie's chairman and CEO, and his affiliate, all of their shares, representing 64.5% of the outstanding shares of LaCie. Following receipt of governmental approvals and the close of this transaction, Seagate would commence an all-cash simplified tender offer to acquire the remaining outstanding shares in accordance with the General Regulation of the French Autorité des Marchés Financiers (AMF). Seagate will acquire LaCie for US $186 million. LaCie drives have been known for their physical design. At times, LaCie has contracted out to companies like Porsche Design for enclosures. Seagate products have been a bit more establishment, and it looks like Seagate wants to have some impact in upscale consumer devices. The transaction is subject to regulatory approval in the United States (antitrust filing), France (approval of foreign investments by the Ministry of Finance) and other jurisdictions (antitrust filing in Germany) and to other customary closing conditions. LaCie has been popular among Mac users, and its drives and accessories are currently sold in Apple Stores worldwide. Late last year, LaCie began selling the first Thunderbolt drives for Macs priced under $1000.
