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.
Fabriks business will continue intact and form the core of Hitachi GSTs 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.
The Fabrik acquisition becomes the cornerstone for the next phase of our business transformation. It strategically expands our market presence, strengthens our product portfolio, and increases our customer base, said Steve Milligan, President of Hitachi GST. Fabrik is a key component of our growth and profit strategy going forward and will enable us to deliver a differentiated set of products across a broad range of end-user market segments.
Hitachi Global Storage Technologies (Hitachi GST)