April 20 2011 news by seagate

Major elements of the agreement include:

• Samsung combining its hard disk drive (HDD) operations into Seagate
• Extending and enhancing the existing patent cross-license agreement between the companies
• A NAND flash memory supply agreement under which Samsung will provide Seagate with its market-le

• A NAND flash memory supply agreement under which Samsung will provide Seagate with its market-leading semiconductor products for use in Seagate's enterprise solid state drives (SSDs), solid state hybrid drives and other products
• A disk drive supply agreement under which Seagate will supply disk drives to Samsung for PCs, notebooks and consumer electronics
• Expanded cooperation between the companies to co-develop enterprise storage solutions
• Samsung receiving significant equity ownership in Seagate
• A shareholder agreement under which an executive of Samsung will be nominated to join Seagate's Board of Dire

The agreement has no financing contingencies, and is subject to customary closing conditions, including review by U.S. and international regulators. The transactions are expected to close by the end of calendar year 2011.