VARINDIA IT MAGAZINE

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Seagate Technology(NASDAQ:STX)  and  Avago Technologies  have announced that they have entered into a definitive asset purchase agreement, under which Seagate will acquire the assets of LSI's  Accelerated Solutions Division ("ASD") and  Flash Components Division ("FCD")  from Avago for $450 million in cash. The acquisition strengthens Seagate’s strategy to deliver a full suite of storage solutions, providing Seagate with established Enterprise PCIe flash and SSD controller capabilities to deliver solutions for the growing flash storage market. LSI’s ASD business, which is the second- largest player in the PCIe flash space, offers a highly differentiated enterprise-grade PCIe flash solution focussed on the high-growth cloud and hyperscale markets. LSI’s FCD business, led by its SandForce SF2000 and SF3700 controller products, is driving a multi-product roadmap to address volume markets. "Seagate is co...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Seagate Technology  has announced two strategic executive appointments to further Seagate’s effectiveness in delivering its core product technology portfolio, customer engagement and operational excellence. Dave Mosley , who most recently served as Executive Vice-President of Operations and R&D, has been named President, Operations and Technology, responsible for Seagate’s global hard drive, heads and media manufacturing operations, as well as global research and development. Rocky Pimentel, who most recently served as Executive Vice-President and Chief Sales and Marketing Officer, has been named President, Global Markets and Customers, responsible for Seagate’s global customer engagement, sales, sales operations, product line management, marketing and retail activities. Both will continue to report to Steve Luczo, Chairman & CEO . These appointments reflect the significant opportunities in front of Seagate. W...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Now, Seagate officially owns Samsung's hard drive business. As per the latest information,  Seagate Technology(NASDAQ:STX)  has announced a private share redemption transaction with  Samsung Electronics Co. , Ltd  by way of 32.7 million ordinary shares, representing approximately 9% of Seagate’s shares outstanding as of the end of the fiscal first quarter 2014. “We are pleased that Samsung intends to continue to be a long-term strategic shareholder and valued business partner with Seagate. Our success with the Samsung hard disk drive products that we acquired has exceeded our expectations and we are very encouraged with our joint product development for enterprise solid-state drives. We look forward to continuing to benefit from Dr Jeong’s counsel and guidance as part of our Board of Directors and we are very optimistic about the future of our flash technology partnership,” said  Steve Luczo, Seagate...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Seagate Technology  has announced that it is the first hard disk drive manufacturer to ship two billion hard disk drives (HDD)  – a staggering number fuelled by the explosive demand for storage from mobile applications, cloud infrastructures, social media, business applications and a wide variety of consumer markets. A testament to the pivotal role played by storage in today’s digital world, it took Seagate 29 years to reach one billion units shipped and just four years to reach the second billion milestone. “This is truly an impressive accomplishment and I am proud to lead this company as we celebrate this success. This achievement is a testament to the commitment of our employees whose relentless dedication and personal pride continue to be the fabric of this company,” said  Steve Luczo, President, CEO & Chairman, Seagate . Digital content demand continues to stem from a wide range of sources, including ...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Seagate has reported financial results for the quarter and fiscal year ended June 29, 2012. During the fourth quarter, on a GAAP basis the company reported revenue of approximately $4.5 billion, gross margin of 33.1%, net income of $1.0 billion and diluted earnings per share of $2.37. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported gross margin of 33.6% and diluted earnings per share of $2.41. In the June quarter, Seagate generated approximately $1.4 billion in cash from operations, paid cash dividends of $106 million and used approximately $1.2 billion to redeem approximately 45 million ordinary shares.  For the fiscal year ended June 29, 2012, on a GAAP basis Seagate reported revenue of $14.9 billion, gross margin of 31.4%, net income of $2.9 billion and diluted earnings per share of $6.49. On a non-GAAP basis, the company reported gross margin of 31.7% and diluted earnings per share...