Western Digital Purchases Enterprise SSD Company sTec for $340 Million
Western Digital is still a massive name in the realm of traditional hard drives, but it isn't the one everyone thinks of for solid state drives. That could begin to change, however, as Western Digital announced the purchase of sTec, an enterprie SSD maker, for $340 million. STec has been on the decline lately since an insider trading scandal last year forced the CEO and co-founder to be ousted. One of the company's shareholders had been pushing for a sale to help right the ship, and luckily Western Digital came to the rescue. Once the deal goes through in the second half of this year, sTec will fall under the HGST subsidary of Western Digital. The plans are to keep sTec working on the enterprise SSD sector, as well as add to HGST's SSD capabilities.
Source: Western Digital