News
 

Bookmark and Share

(0) 

Western Digital today announced that the bankruptcy court presiding over the assets of Read-Rite Corporation approved the sale to Western Digital of substantially all of the assets of Read-Rite, including its wafer fabrication operation in Fremont, California and an option to purchase its operations in Thailand.

The assets are being acquired for cash consideration of approximately $95.4 million. The Thailand operations have un-negotiated debt obligations of approximately $62 million. Western Digital said it intends to fund the acquisition through working capital. The transaction is expected to close within 10 days, subject to the terms of the sale order issued by the bankruptcy court.

Western Digital indicated that the planned acquisition is aimed at improving its access to recording head technologies over the long term and increasing its operational flexibility. In the near term, the company has secured adequate supply of recording heads for the foreseeable future, including 80GB technology, from merchant market suppliers.

Discussion

Comments currently: 0

Add your Comment




Related news

Latest News

Monday, July 28, 2014

6:02 pm | Microsoft’s Mobile Strategy Seem to Fail: Sales of Lumia and Surface Remain Low. Microsoft Still Cannot Make Windows a Popular Mobile Platform

12:11 pm | Intel Core i7-5960X “Haswell-E” De-Lidded: Twelve Cores and Alloy-Based Thermal Interface. Intel Core i7-5960X Uses “Haswell-EP” Die, Promises Good Overclocking Potential

Tuesday, July 22, 2014

10:40 pm | ARM Preps Second-Generation “Artemis” and “Maya” 64-Bit ARMv8-A Offerings. ARM Readies 64-Bit Cores for Non-Traditional Applications

7:38 pm | AMD Vows to Introduce 20nm Products Next Year. AMD’s 20nm APUs, GPUs and Embedded Chips to Arrive in 2015

4:08 am | Microsoft to Unify All Windows Operating Systems for Client PCs. One Windows OS will Power PCs, Tablets and Smartphones