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Hitachi takes over IBM's hard drive business

Hitachi takes over IBM's hard drive business

The hard disk business of IBM will in the future be led by the Japanese electronics manufacturer Hitachi. Hitachi will initially have a clear majority of 70 percent in the new joint venture and will eventually take over the company completely in three years.

The purchase price will amount to $ 2.05 billion. The new group will be headquartered in San Jose, California, and will also have 11 additional locations with a workforce of 24,000. Initially the management will consist of employees from IBM and Hitachi, later logically only from employees from Hitachi.

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