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TMCNet: Hitachi Global Storage Technologies acquires Fabrik

[April 06, 2009]

Hitachi Global Storage Technologies acquires Fabrik

Apr 06, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- Hitachi Global Storage Technologies (Hitachi GST), a manufacturer of hard disk drives, has acquired Fabrik, Inc., a provider of personal and professional storage solutions. Both the companies are based in the US.


Announcement (February 23, 2009): Hitachi GST has agreed to acquire Fabrik.

Fabrik's business will form the core of Hitachi GST's newly-formed external storage business. The deal is expected to close in the second quarter of 2009.

Earlier, Fabrik has secured around $50 million in venture funding from 3i Group plc, Velocity Interactive Group, and Intel Capital.

Merrill Lynch International is acting as financial advisor to Hitachi GST.

Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2009-04-06 Deal Participants Target (Company) Fabrik, Inc.

Acquirer (Company) Hitachi Global Storage Technologies Deal Rationale The acquisition of Fabrik would expand the market presence, strengthen the product portfolio, and increase the customer base of Hitachi GST. In addition, Hitachi GST strategically expands into external storage.

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