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Western Digital to buy Hitachi’s disk storage division for $4.3B

Western Digital announced today that it has entered into a definitive agreement to acquire Hitachi Global Storage Technologies (GST), the disk drive arm of Hitachi Ltd., in a cash and stock transaction valued at about $4.3 billion.

Western Digital is the leading supplier of hard disk drive technology, with about 31% of the market, followed by Seagate Technology with 29%. Hitachi GST’s business represents about 18% of total hard drive units shipped, according to market research firm iSuppli. Once combined, Western Digital and Hitachi GST will handily dominate Seagate in the market…

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