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Seagate to acquire controlling interest in LaCie

May 23, 2012
Seagate to acquire controlling interest in LaCie

HILLSBORO, OR — Seagate (www.seagate.com), a developer of hard disk drives and storage solutions, has announced its intent to acquire a controlling interest in LaCie ( www.lacie.com), here. The company has offered to purchase from Philippe Spruch, LaCie's chairman and CEO, and his affiliate, all of their shares, representing 64.5 percent of the outstanding shares of LaCie. 

The transaction would combine two highly complementary product and technology portfolios, adding LaCie's line of premium branded consumer storage solutions, network-attached storage solutions and software offerings to Seagate's array of mainstream consumer storage products. The combination would accelerate Seagate's growth strategy in the expanding consumer storage market, particularly in Europe and Japan, and add strong engineering and software development capabilities, as well as relationships with several key retailers. 

Spruch would join Seagate and lead the company's consumer storage products organization. Reporting to him would be Patrick Connolly, who currently serves as vice president and general manager of Seagate's retail group, as well as Pierre van der Elst, who currently serves as deputy general manager of LaCie.