Original URL: http://www.channelregister.co.uk/2007/08/28/seagate_china_lenovo/
Updated Rumours are circulating in the heady world of hard disk drives (HDDs) that a Chinese tech firm wants to buy Seagate Technology.
The New York Times reported on Saturday that an unnamed Chinese technology company, widely believed to be computer maker Lenovo, had approached Seagate, the world's number one manufacturer of HDDs.
It’s a worry for US authorities who, according to the Times, would see such a deal as a risk to national security by exposing high technology to China.
Seagate CEO William D. Watkins, who declined to name the firm at the centre of the rumours, reportedly said that "the U.S. government is freaking out."
He added that while Seagate, which dominates around 30 per cent of the worldwide HDD market share, was not looking for a buyer, if the price was high enough it would be difficult for shareholders to say no to such an offer.
Shares in the California-based firm are currently trading at $24.89 on the New York Stock Exchange. ®
Seagate has this afternoon squashed rumours of an imminent buy-out from a leading Chinese tech firm.
According to Reuters, Seagate CEO Watkins had been simply discussing the growing interest in HDD technology from companies based in China, Japan and Korea, where working with respective governments, HDD storage had become "a national agenda."
In a statement, Seagate said: "Just to be clear, Seagate has not received such an offer, and we are not trying to sell the company."
Seagate says storage demand better than expected (17 October 2007)
http://www.channelregister.co.uk/2007/10/17/seagate_numbers/
Seagate targets sensitive customers with encrypted HDDs (6 September 2007)
http://www.channelregister.co.uk/2007/09/06/seagate_encrypts_hdds/
Seagate raises financial outlook (28 August 2007)
http://www.channelregister.co.uk/2007/08/28/seagate_raises_q107_outlook/
Yahoo!, Microsoft ink web pact with Chinese government (24 August 2007)
http://www.theregister.co.uk/2007/08/24/yahoo_and_microsoft_ink_chinese_blogging_pact/
Seagate to start shifting SSDs (23 August 2007)
http://www.channelregister.co.uk/2007/08/23/seagate_ssd_flash_memory_chips/
Google throws cash around China (20 August 2007)
http://www.theregister.co.uk/2007/08/20/google_invests_in_tianya/
Lenovo moves to the country (3 August 2007)
http://www.channelregister.co.uk/2007/08/03/lenovo_targets_rural_market/
Lenovo profits soar (2 August 2007)
http://www.channelregister.co.uk/2007/08/02/lenovo_quarterly_results/
Western Digital profit rises on tax benefit (27 July 2007)
http://www.channelregister.co.uk/2007/07/27/western_digital_q4/
Seagate FreeAgent Go 160GB external hard drive (24 July 2007)
http://www.reghardware.co.uk/2007/07/24/review_seagate_freeagent_go/
Western Digital channel in a spin over new green HDD (23 July 2007)
http://www.channelregister.co.uk/2007/07/23/western_digital_green_power/
Seagate income soars with $359m tax break (19 July 2007)
http://www.theregister.co.uk/2007/07/19/seagate_q4_o7/
Western Digital buys platter maker Komag (29 June 2007)
http://www.channelregister.co.uk/2007/06/29/wd_buys_komag/
Seagate joins 1TB HDD battlefield (25 June 2007)
http://www.channelregister.co.uk/2007/06/25/seagate_introduces_1tb_drive/
Lenovo swallows tasty profit (24 May 2007)
http://www.channelregister.co.uk/2007/05/24/lenovo_healthy_q4/
Seagate stock sinks after earnings stink (10 April 2007)
http://www.channelregister.co.uk/2007/04/10/seagate_q3_earnings_lowered/
© Copyright 2008