Hitachi Set to Acquire Fabrik's Storage Business
The acquisition will strategically position Hitachi in the fast-growing external storage business, said a company release. Fabrik’s storage brands include G-Technology and SimpleTech.
"Fabrik will be a key component of our growth and our profit strategy. Going forward it will enable us to deliver a differentiated set of products across a broad range of end-user market segments," said Steve Milligan, president of Hitachi GST.
Hitachi GST will fully support the G-Technology and SimpleTech product lines and build upon the brand success and differentiation in the market, Milligan said.
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.
Financial details of the transaction were not disclosed and the closing of the acquisition, is expected to occur early in the second quarter of 2009.
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