Seagate Completes Lacie Acquisition, Becomes An Even Larger Storage Company

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News Posted: Sat, Aug 4 2012 12:40 AM
We knew the story had to end sometime, and now there's confirmation. Seagate and Lacie have just announced the completion of a deal that'll see the latter acquired by the former. Seagate was already the larger of the two, and now it's even bigger. Picking up Lacie is probably a wise move; it'll expand its portfolio, and it'll give it access to a panache and design that was lacking from Seagate's existing offerings. Now that the deal is done, Seagate has procured all of the shares of Philippe Spruch and his affiliate, representing 64.5% of the outstanding shares of Lacie for a provisional price of €4.05 per share. The price payable to Philippe Spruch and his affiliate may be increased by 3%, to €4.17 per share, in the event that within six months following today's date, Seagate holds at least 95% of the share capital and voting rights of Lacie.

So far, Lacie has continued to crank out new gear like nothing ever happened, and we're hoping that it continues. When companies buy other companies but leave well enough alone, things typically go well. Guess we'll see in a year or so, huh? Below is a bit of the official word confirming the deal's close.


"The completion of the transaction follows the required clearances from the French Ministry of Finance and the US and German Antitrust Authorities.

As a result of the completion of the transaction, Seagate intends to file in the coming weeks with the French Autorité des marches financiers an all-cash simplified tender offer on the remaining LaCie shares.

As previously announced, Ricol Lasteyrie & Associés has been appointed as independent expert by the Board of Directors of LaCie on May 23, 2012.

Following discussions with the Board of Directors of LaCie, in particular with the independent members, Seagate has increased the proposed offer price at which it will file its tender offer to €4.50 per LaCie share (without an additional 3% price supplement in the event that a squeeze-out procedure is implemented). Seagate may carry out a squeeze-out procedure at the same price of €4.50 per LaCie share if it were to hold at least 95% of the shares and voting rights of LaCie.

The Board of Directors welcomes the revised offer price and intends to support the revised offer as long as the final report of the independent expert affirms the valuation."
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Where does Seagate stand in comparison with say western digital or even the corsair brand?

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Is that a picture of Seagate's Momentus XT? Always wanted to try it out, see just how much better it is than a normal HDD or how worse it is compared to an SSD.

"You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new."

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@AKnudson, Seagate is a great company, I personally choose their drives over WD. I've run their drives since they bought out Maxtor back in the day. Right now I'm running an ssd and 6gb/s Seagate Barracuda Green for storage. The Barracuda Green performs better than my older WD 7200 drives. We also use their FreeAgent GoFlex series at work for all of our portable hard drives, no problems that I know of and we have quite a few.

@InsideSin I'm also running the og 500gb momentus XT in my laptop. It was an upgrade from a 5400 drive. I would highly recommend the transition, it's performance is in between an ssd and traditional hhd, closer to the hhd. The laptop now has great boot up times and program launches, transfers and everything else perform like a normal hhd. The newest momentus XT is even better than the older one I'm running.

Now you're just mashing it!

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Drake_McNasty:
I would highly recommend the transition, it's performance is in between an ssd and traditional hhd, closer to the hhd.

I also have a 500GB Hybrid Seagate drive in my old HP laptop and it's a good upgrade. It was worth the money. Boot times are faster and file transfers are more in line with a HDD.

It "Learns" your usage patterns and stores ~that data~ in the flash area to improve overall performance. It does it on the fly, all by itself.

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rapid1 replied on Sun, Aug 5 2012 12:57 PM

Yeah SSD's are the thing for speed and especially for a main OS drive where as a mechanical HD is just awesome for a storage closet. I am glad you posted your experience on the combo platform as well realneil as I was wondering about that. I have not personally used one I did imagine that would be the case. I wonder what having one monster drive (2-3TB+ in raid 1 for consistency) a 128+ SSD and 2 of the combos of 750GB to 1TB for active programs in a RAID one setup would be like especially as faster ram comes onto the market with DDR4 (I still do not get the use of DDR4 over DDR5 in this space but whatever) would be like. I know you guys probably think I am nuts laying out a drive array like that. I currently use a 64Gb SSD for my OS 2 750GB mechanical's in raid one as my drive array though so it is just an extension of that.

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Nothing wrong with RAID arrays at all. I have a pair of 750s, a pair of 1.5TB drives, and a pair of 2TB drives all in RAID on three PCs right now.

Two have 120GB SSDs and the other has a 240GB SSD as the OS drive.

All of that storage space is great and you do tend to fill it up over time.

Having your OS on a SSD is golden. The bigger, the better. (one of the 120GB SSDs is only a SATA-II drive, but it's still pretty darn fast)

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CArnold replied on Sun, Aug 5 2012 10:57 PM

I was rather disappointed in Seagates acquisition of the Samsung HDD line, Samsung makes awesome drives but now I question them.

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AKnudson replied on Sun, Aug 5 2012 11:17 PM

Seagate is the better brand, understood. So what market niche does WD occupy?

Also what was Ray specifically referring to when he said, "it'll give it access to a panache and design that was lacking from Seagate's existing offerings."

Whose panache and design is Seagate trying to compete with?

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I think that Lacie has been a go-to source for Apple Mac owners for a long time. They make a wide range of peripherals for Macs.

As for "panache and design",......~~Look Here~~

 

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Erakith replied on Mon, Aug 6 2012 9:47 AM

I'm still not sure about Seagates acquisition of LaCie over OCZ. 

I own a Momentus XT 750GB that I run next to my Plextor M3 SSD. As much as for the time being we're always going to be using mechanicals, at least to some degree, I can't see Seagate capturing NEW Market share without a 100% Solid State offering.

Acquiring OCZ would have given Seagate a pre-established SSD business (okay, so OCZ's QC isn't the best/their failure rates are higher than average, but Seagate could have potentially fixed that) of which they could have captured new market share to re-establish its name as a storage titan that it was previously. Acquiring LaCie gives it more facilities and increases the companies size, but it doens't actually bring anything new to the table. 

I did notice however that Seagate have hired one of its ex-employees to head up its Solid State business. Does this mean Seagate are going to continue with the in-house R&D and attempt to push a SATA 3 SSD to market under the Seagate brand? The market is pretty convoluted at present, with so many false choices but really only two - Sandforce or Marvell (/Indillinx). Perhaps Seagate could develop and license a controller.. Still, Seagate would have seen a much bigger initial gain by going through with the OCZ deal. Not only would they already HAVE a product, they'd have the research and technology required for current and future generations of SSD at their fingertips.

 

Just my 2c.

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realneil replied on Mon, Aug 6 2012 12:17 PM

Seagate bought OCZ too.

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Erakith replied on Mon, Aug 6 2012 12:27 PM

Not according to Forbes.. 

http://www.forbes.com/sites/ericsavitz/2012/07/30/ocz-nope-no-acquisition-by-seagate-shares-retreat/

 

Do you have a URL I could read? I know they were planning on acquiring OCZ, but as far as I know, it hasn't happened. Maybe next quarter?

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realneil replied on Mon, Aug 6 2012 12:44 PM

http://www.eteknix.com/news/ocz-sold-to-seagate-for-1-billion/?utm_source=dlvr.it&utm_medium=facebook&utm_campaign=ocz-sold-to-seagate-for-1-billion

You maybe right about this.

They have now put a red EDIT statement on the page saying that the deal may not happen. But they had already reported the deal as finalized. I'd like to see OCZ stay independent of control by Seagate or Western Digital so that their prices do not shoot up artificially.

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Erakith replied on Mon, Aug 6 2012 12:47 PM

Yeah, Bright Side of News initially reported it finalized which sent everything up into a big rumor explosion, but it wasn't actually finalized at that point.. 

You just sent me on a mad google run trying to make sure I was right, haha. 

I would like to see OCZ retain their independence yet also improve their QC and failure rates - if Seagate acquired them, I'd like to see them remain a seperate entity/semi autonomous, yet have access to Seagate's vast QC experience.. Still, that didn't stop those SAS drives of theirs running at 90C. Haha.

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realneil replied on Mon, Aug 6 2012 12:55 PM

Erakith:
You just sent me on a mad google run trying to make sure I was right, haha.

We were both doing the same thing,....LOL!

As to quality issues with OCZ, I've been lucky that I never had any issues with any of their drives. Mine work great.

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Erakith replied on Mon, Aug 6 2012 12:59 PM

Well, they DO work great most of the time. 

A friend of mine bought a Petrol (not the best choice, but whatever) and it failed after two days. He got an exhange, DOA, got an exchange and it lasted 2 months. Haha. Poor guy.

I love my Plextor, one of the lowest failure rates in the industry. It's delicious. :D

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Hmm the enclosures for the LaCie drives were designed by F.A. Porsche (who died recently, RIP), same person who designed the Porsche 904 & 911. 

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