Maxtor buys Quantum
The hard drive manufacturer Maxtor is buying, as has just become known, the hard drive division of its competitor Quantum. As is customary today, the takeover will take place by means of a share swap valued at 2.3 billion US dollars.
This takeover will bundle production capacities, resulting in cost savings totaling 120 million US dollars. Dollars in the first two years. It remains to be seen whether the customer can also benefit from these cost savings. The new company will be called Maxtor Corporation and does not include the Quantum DLT & Storage System Group, which is not affected by the acquisition and which will continue to exist in Quantum Corporation.