Arik Hesseldahl

Recent Posts by Arik Hesseldahl

Seagate to Acquire Consumer Hard Drive Maker LaCie

Hard drive giant Seagate said today that it will acquire LaCie, the French company behind the popular line of consumer hard drives and other storage devices.

Seagate has offered $186 million, or about 4.05 euros per share, for 64.5 percent of the shares of LaCie controlled by Philippe Spruch, the company’s chief executive. The offer amounts to a premium of almost 30 percent.

Anecdotally, I can also say that LaCie’s drives are probably the most popular among people who own Apple Macs. I see its orange-encased ruggedized external drives everywhere Macs are used, and I own about a half-dozen of them myself. From a consumer retail perspective, Seagate has generally struggled to penetrate the Mac-owning market. And as we all know, the size of the Mac market is growing faster than the rest of the PC-owning world.

There’s also LaCie’s considerable retail and distribution footprint to consider. Under terms of the deal, Spruch would join Seagate.

Seagate is approaching the deal from a position of renewed strength. It weathered the flooding in Thailand, which hammered the hard drive industry’s supply chain and caused a shortage last year, better than rival Western Digital.

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik