Seagate has agreed to purchase 64.5 percent of LaCie’s outstanding shares, and has offered LaCie about US$5.17 cents a share, in an all-cash transaction worth about US$186 million according to a LaCie press release.
LaCie chairman and CEO Philippe Spruch will join Seagate to run the company’s consumer storage products division.
“Seagate has a strong commitment to the growing consumer storage market and bringing the most dynamic products to market. LaCie has built an exceptional consumer brand by delivering exciting and innovative high-end products for many years. This transaction would bring a highly complementary set of capabilities to Seagate, significantly expand our consumer product offerings, add a premium-branded direct-attached storage line, strengthen our network-attached storage business line and enhance our capabilities in software development,” said Steve Luczo, Seagate chairman, president and CEO.
However it remains to be seen whether LaCie’s products will be rebranded with the Seagate name or the LaCie brand will continue.
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. The deal should go through by late 2012