China Commerce Ministry Ruling Clears Way for Seagate's Integration of Samsung Hard Drive Business
A decision by China’s Ministry of Commerce (MOFCOM) clears the way for Seagate to integrate Samsung’s hard disk drive business into Seagate without any restrictions, the company said Thursday. The agency’s decision is the result of an ongoing discussion on…
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the “hold separate” conditions it required of Seagate after the acquisition of Samsung's HDD business in 2011. The decision requires that Seagate allow customers to buy products from other vendors and that Seagate can't force TDK China to sell hard disk drive heads exclusively to Seagate, said the company. The process with MOFCOM reflects Seagate’s "long-term presence, significant ongoing investment, and deep relationships in China,” said Seagate CEO Steve Luczo.