Seagate Technology Stories April 6, 2014

LaCie introduces Thunderbolt 2 4K solutions at NAB, highlights 8big Rack full of 6TB Seagate Drives

For those who do heavy duty video editing and want to take advantage of the Thunderbolt 2 speeds offered in Apple’s latest Pro products, LaCie introduced some interesting new products at the 2014 NAB Show. Three new storage solutions are on tap: The LaCie 8big Rack, 5big and 2big feature industry leading speeds and the latest 6TB hard drives from Seagate. This combination of speed and capacity make these products ideal for 4K workflows. Built–in hardware RAID keeps data safe, while cutting–edge industrial design delivers user efficiency and stunning appearance. From LaCie:

LACIE 8BIG RACK

The LaCie 8big Rack Thunderbolt 2 is the company’s first Thunderbolt 2 rackmount storage solution. Compact and stylish, the LaCie 8big Rack features up to eight 6TB 7200RPM hard drives from Seagate, for an impressive 48TB in a mere 1U size. Delivering speeds of up to 1330MB/s*, it is the most powerful plug and play rackmount solution for 4K video editing.

view full press release

LACIE 5BIG

Now featuring Thunderbolt 2 technology, hardware RAID 5 and industry–leading capacity, the new LaCie 5big is nearly two times faster — delivering speeds of up to 1050MB/s*. Thanks to Seagate’s new 6TB 7200RPM hard drives, it boasts a 20% capacity increase, which makes it the most compact 30TB storage device on the market. With these advances, the new LaCie 5big gives video professionals huge capacity and ample bandwidth for improving 4K workflows — right on the desktop. view full press release

LACIE 2BIG

The new LaCie 2big boasts a host of features including Thunderbolt 2 technology, hardware RAID and a new industrial design. Speeds of up to 420MB/s* along with two 6TB 7200RPM hard drives from Seagate make the new LaCie 2big the fastest, highest capacity dual–bay external storage solution on the market. It features USB 3.0 for compatibility with nearly any computer. Plus, its all–new industrial design sets a new standard for versatility and reliability.

view full press release

NAB SHOW

The new LaCie 8big Rack, 5big and 2big join the Little Big Disk (shipping since February 2014) to create the most comprehensive Thunderbolt 2 storage range on the market. LaCie will demonstrate these products at the NAB Show in Las Vegas from April 7–10, 2014. Customers attending the show are encouraged to stop by the LaCie booth (SL9927) to see first hand how these products excel in 4K workflows. For an exclusive sneak peek of these demonstrations, watch this video filmed earlier today: www.lacie.com/nab2014

AVAILABILITY

The LaCie 8big Rack, 5big and 2big, featuring Thunderbolt 2, will be available this quarter through the LaCie online store and LaCie resellers. Pricing will be announced when the product is available for purchase.

WARRANTY

LaCie professional products are protected by a three-year limited warranty. The warranty includes complimentary web–based resources, expert in–house technical support and worldwide repair and/or replacement coverage. Warranty extension and Advance Care Option can also be purchased. For details, visit www.lacie.com/warranties.

ABOUT LACIE

LaCie, the premium brand from Seagate Technology (NASDAQ: STX), designs world–class external storage products for Apple®, Linux and PC users. LaCie differentiates itself with sleek design and unmatched technical performance. Find out more at www.lacie.com.

Seagate Technology Stories December 18, 2012

Today, we have updates on Apple and Samsung’s ongoing court woes. A report from Bloomberg noted U.S. District Judge Lucy H. Koh in the San Jose, California case rejected Apple’s most recent request for a United States sales ban on 26 Samsung devices. According to the report, Koh said the decision was based on the fact that the “case involves lost sales—not a lost ability to be a viable market participant.”

“Samsung may have cut into Apple’s customer base somewhat, but there is no suggestion that Samsung will wipe out Apple’s customer base, or force Apple out of the business of making smartphones,” Koh said. “The present case involves lost sales — not a lost ability to be a viable market participant.”

As noted by The Verge, a second post-trial order delivered by Koh yesterday denied Samsung’s request for a new trial on the claims of jury misconduct. Koh claimed that juror Velvin Hogan disclosed his previous involvement with Seagate during the jury selection process, giving Samsung’s lawyers more than enough time to discover the litigation. From the court filing:

Samsung has waived its claim for an evidentiary hearing and a new trial based on Mr. Hogan’s alleged dishonesty during voir dire.  Prior to the verdict, Samsung could have discovered Mr. Hogan’s litigation with Seagate, had Samsung acted with reasonable diligence based on information Samsung acquired through voir dire, namely that Mr. Hogan stated during voir dire that he had worked for Seagate.

Samsung vs. Apple cases abroad are also making news today: FossPatents reported today that Samsung has dropped all requests for sales bans against Apple in Europe related to standard-essential patents. However, as pointed out in the report, Samsung will still attempt to win monetary compensation in its cases against Apple, but will no longer request courts to enforce bans on Apple products. FossPatents speculated on Samsung’s decision: expand full story

Seagate Technology Stories November 9, 2012

Following the $1 billion verdict in the Samsung vs. Apple case, Samsung has been attempting to get the courts to investigate juror Velvin Hogan. It claimed Hogan “concealed information” about his past history with Seagate, a company Samsung is now a shareholder in. CNET reported Federal District Judge Lucy Koh will consider Samsung’s claims in a hearing set for Dec. 6. At the heart of the allegations is whether Hogan disclosed that his former employee Seagate had previously sued him:

As part of her inquiry, Koh said she will require Apple to disclose what information the company’s lawyers knew about the jury foreman…Samsung argued that jury foreman Velvin Hogan didn’t disclose during jury selection that he had been sued by Seagate, his former employer. Samsung pointed out in court papers that Seagate and Samsung have a “substantial strategic relationship.” The litigation with Seagate led Hogan to file for personal bankruptcy in 1993. Samsung maintains Hogan should have informed the court about the case.

The Register reported today that Apple called Samsung’s argument a “convoluted theory,” adding it was Samsung responsibilities to interview jurors members during jury selection: expand full story

Seagate Technology Stories May 23, 2012

Seagate buys long time Mac peripheral maker LaCie for roughly $186 million

Seagate announced its plans to buy LaCie, a Paris-based maker of various data storage products that are popular among Mac users, this morning. LaCie makes various products aimed at Mac users including a couple Thunderbolt enabled solutions that we showed you recently. Seagate will buy the 64.5-percent of the company currently held by CEO Philippe Spruch—and the rest in cash upon completion of that transaction (via Forbes):

Seagate Technology plc the worldwide leader in hard disk drives and storage solutions, and LaCie S.A. a leading manufacturer of consumer storage products, today announced an exclusive agreement with the intent for Seagate to acquire a controlling interest in LaCie.The transaction would combine two highly complementary product and technology portfolios, adding LaCie’s line of premium branded consumer storage solutions, network-attached storage solutions and software offerings to Seagate’s array of mainstream consumer storage products.

SEAGATE AND LACIE ANNOUNCE EXCLUSIVE AGREEMENT WITH INTENT FOR SEAGATE TO ACQUIRE CONTROLLING INTEREST IN LACIE

May 23, 2012

Seagate has Offered to Purchase LaCie CEO’s 64.5% Ownership Position; Seagate to Subsequently Commence Tender Offer for Remaining Outstanding Shares

Expands Seagate’s Product Line and Capabilities in the Growing Consumer Storage Market

CUPERTINO, CA and PARIS, FRANCE – May 23, 2012 – Seagate Technology plc (NASDAQ: STX) the worldwide leader in hard disk drives and storage solutions, and LaCie S.A. (Euronext: LAC), a leading manufacturer of consumer storage products, today announced an exclusive agreement with the intent for Seagate to acquire a controlling interest in LaCie. Seagate has offered to purchase from Philippe Spruch, LaCie’s chairman and CEO, and his affiliate, all of their shares, representing 64.5% of the outstanding shares of LaCie. Following receipt of governmental approvals and the close of this transaction, Seagate would commence an all-cash simplified tender offer (followed as the case may be by a squeeze-out procedure) to acquire the remaining outstanding shares in accordance with the General Regulation of the French Autorité des Marchés Financiers (AMF).

Seagate has offered Mr. Spruch and his affiliate €4.05 per share in cash, minus a potential adjustment depending on the cash and debt position of LaCie at closing. This price may be increased by a possible price supplement of 3% in the event that the threshold of 95% of the shares and voting rights of LaCie would be reached by Sparrow within 6 months following closing, resulting in a maximum potential price per LaCie share of €4.17. Without the price supplement, the offer currently values LaCie at an approximate €146 million, or $186 million total equity value, including acquired net cash of approximately €49 million, or $65 million, as of March 31, 2012. The €4.05 per share price represents a premium of 29% to LaCie’s average closing stock price over the 30 trading days ended May 22, 2012.

Ricol Lasteyrie & Associés was appointed today as independent expert by the board of directors of LaCie, to deliver a fairness opinion on the price that would be offered in the context of the tender offer, including in the perspective of a potential squeeze-out procedure.

The transaction would combine two highly complementary product and technology portfolios, adding LaCie’s line of premium branded consumer storage solutions, network-attached storage solutions and software offerings to Seagate’s array of mainstream consumer storage products. The combination would accelerate Seagate’s growth strategy in the expanding consumer storage market, particularly in Europe and Japan, and add strong engineering and software development capabilities, as well as relationships with several key retailers.

The transaction is expected to be neutral to Seagate’s fiscal 2013 earnings per share.

Following the close of the sale of his shares to Seagate, Mr. Spruch would join Seagate and lead the company’s consumer storage products organization. Reporting to him would be Patrick Connolly, who currently serves as vice president and general manager of Seagate’s retail group, as well as Pierre van der Elst, who currently serves as deputy general manager of LaCie. The financial terms of the new position of Mr Spruch are not determined as of today and would therefore be described subsequently, including in the tender offer documentation.

“Seagate has a strong commitment to the growing consumer storage market and bringing the most dynamic products to market. LaCie has built an exceptional consumer brand by delivering exciting and innovative high-end products for many years. This transaction would bring a highly complementary set of capabilities to Seagate, significantly expand our consumer product offerings, add a premium-branded direct-attached storage line, strengthen our network-attached storage business line and enhance our capabilities in software development,” said Steve Luczo, Seagate chairman, president and CEO. “We are also excited that Philippe, who is a true visionary and leader in the consumer storage business, would join Seagate to run our consumer storage products organization.”

“With the proliferation of devices and content being shared and stored today, consumer demand for high-quality branded storage solutions continues to grow,” said Philippe Spruch, LaCie’s chairman and CEO. “We are excited about the potential for this combination to benefit customers and employees by creating significant scale and opening up new markets. We look forward to making the resources of a much larger company available to our customers around the world.”

LaCie will initiate the information and consultation process required by its employee representative council in relation to the contemplated transaction, in accordance with French law. Upon completion of this process, Seagate and Mr. Spruch would execute a definitive share purchase agreement and finalize the purchase of the controlling interest held by Mr. Spruch and his affiliate. This share purchase transaction is expected to close in the third calendar quarter of 2012 pending completion of the relevant governmental reviews. Seagate would then commence a tender offer for the remaining outstanding shares of LaCie (followed as the case may be by a squeeze-out procedure), subject to a clearance decision from the AMF. The tender offer is expected to be completed in the third calendar quarter of 2012.

The transaction is subject to regulatory approval in the United States (antitrust filing), France (approval of foreign investments by the Ministry of Finance) and other jurisdictions (antitrust filing in Germany) and to other customary closing conditions.

Morgan Stanley & Co. LLC served as financial advisor and Allen & Overy LLP served as legal advisor to Seagate in connection with the transaction. De Pardieu Brocas Maffei A.A.R.P.I served as legal advisor to LaCie.

Seagate Technology Stories January 10, 2012

I had some time to demonstrate some of the upcoming Thunderbolt accessories from external drive makers at CES earlier today. We briefly discussed a few others from OCZ, LaCie, Belkin and Elgato earlier in the week. First up is the Western Digital MyBook Thunderbolt Duo:

These are going to compare nicely to the Promise RAID setup that has similar speeds, but it does not have a price or release date yet.  The vibe seemed to be like Q2 with perhaps an announcement at Macworld.

Next up is the Hitachi G-Drive series of Thunderbolt Drives, and these drives are 8TBs…

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Seagate Technology Stories July 22, 2011

Apple has issued a recall for a “small number” of 1TB Seagate hard drives in the 21.5-inch and 27-inch iMacs. Apple’s announcement doesn’t go into specifics, but says the systems were sold between May 2011 and July 2011. If you’re are experiencing issues you can take your iMac to an Apple retail store or Apple service provider, or you can contact Apple technical support. Apple will replace the hard drive free of charge. (via MacRumors)

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