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Seagate announces intentions to acquire controlling interest in LaCie

In a press release today, Wednesday, May 23, 2012, LaCie and Seagate announced an exclusive agreement for Seagate to acquire controlling interest in LaCie. This purchase will grow Seagate’s hard disk product line and increase its capabilities in the consumer storage market.

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Seagate offered to purchase 64.5% of LaCie’s outstanding shares from Philippe Spruch, LaCie’s chairman and CEO, and his affiliate. These shares are currently valued at $186 million. The purchase price for Seagate may increase depending on the cash and debt position of LaCie at closing.

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