Seagate has announced its intent to acquire LaCie.
Seagate has offered to purchase from Philippe Spruch, LaCie's chairman and CEO, and his affiliate, all of their shares, representing 64.5% of the outstanding shares of LaCie. The all-cash offer at current market value comes in at $186M.
The deal is aimed at adding LaCie's higher end direct-attached and networked storage products to Seagate's consumer product line, with an aim of boosting growth in consumer storage, with a focus on European and Japanese markets.
The acquisition is expected to complete in Q3 of this year.