Subject: General Tech | August 5, 2012 - 10:23 PM | Tim Verry
Tagged: ssd, Seagate, LaCie, Hard Drive, controlling interest
Earlier this year, it was revealed that hard drive manufacturer was interested in acquiring a controlling interest in LaCie. LaCie is a manufacturer of high-end desktop drive and NAS enclosures. The company announced that it planned to purchase shares from LaCie CEO and Chairman Philippe Spruch and an unnamed partner. Doing so would give Seagate 64.5% of outstanding shares. It is further offering shareholders as much as $5.09 USD for their shares should Seagate acquire 95% of outstanding shares and voting rights within six months of the deal closing.
After getting the necessary go ahead from various governmental anti-trust bodies, Seagate is ready to move forward with the acquisition. Both Seagate Technology PLC (public limited company) and LaCie S.A. (annonymous society) have announced the buyout is official. Seagate has indeed purchased all shares owned by Philippe Spruch and his partner for €4.05 (approximately $5.01) per share, giving Seagate 64.5% of outstanding shares and a majority interest in the company and more votes than the remaining investors combined. Should Seagate acquire 95% of shares within six months, the check made out to the LaCie chairman and his unnamed affiliate would increase 3% due to the price per share paid increasing to €4.17/share (approximately $5.16).
The merging of Seagate and LaCie logos (hehe).
Beyond that, Seagate wants to completely buy out all outstanding shares of the company. It will offer an all cash offer to the remaining shareholders. While Ricol Lasteyrie & Associes is still the independent expert that was announced previously, Seagate has increased the price per share that they are willing to offer shareholders. Should the independent experts okay the offer (by making sure that LaCie shareholders would be getting an appropriate amount of money per share based on an independent valuation), Seagate is prepared to pay up to €4.50 per share, or approximately $5.57. With the new offer, there is no contingency offer like the 3% increase to Spruch should Seagate get 95% of shares. The €4.50 is as much as Seagate is looking to pay.
With all the talk lately of Seagate acquiring an SSD manufacturer, the official acquisition of LaCie is interesting. Seagate may well still be looking for an SSD manufacturer, because although LaCie does have some flash USB key storage experience and products, they do not have SSD experience. Also, the intention to buy LaCie has been known for much longer than the rumor that Seagate would acquire OCZ has been making the rounds on the web. As far as the combination of Seagate and LaCie goes, Seagate is getting a high-end enclosure product lineup that the company can then integrate its own drives into.
While not the announcement that people were hoping for, it is likely a positive move to Seagate to acquire LaCie. Is it OCZ or Fusion IO’s turn next?
Here, you can find more information on the deal.
Seagate announced today that they will be pursuing a controlling interest in LaCie. The two companies deal in complementary areas of the storage industry with Seagate manufacturing drives and LaCie developing mobile and desktop drive enclosures and NAS solutions. In order to achieve a controlling (more than 50%) interest in the company, Seagate has offered to purchase all of Philippe Spruch’s–LaCie’s Chairman and CEO–shares. In addition to shares from an unnamed affiliate, such a buy would net Seagate 64.5% of outstanding shares of LaCie stock. Seagate is offering the LaCie shareholders €4.05 (approximately $5.09 USD) for their stock, and may be increased to as much as €4.17 should Seagate get 95% of LaCie shares and voting rights within 6 months of closing.
The merging of Seagate and LaCie logos (hehe).
After acquiring a controlling interest, they would then work to buy back all other otustanding shares with a cash offer. The initial purchase of stock is still pending governmental approval. Ricol Lasteyrie & Associates has been appointed as an independent expert by the board of directors for LaCie to examine the offer and determine whether or not to accept. Should it go through, Philippe Spruch would join Seagate as the president of Seagate’s consumer storage division. He would have the current Seagate vice president Patrick Connolly and LaCie deputy general manager Pierre van der Elst reporting to him. At this time, Seagate has not disclosed how much the former LaCie employees would be paid to work for Seagate. If all the appropriate governing bodies “okay” it, the buyout is expected to happen in the third quarter of 2012 (Q3 2012).
Steve Luczo, Seagate chairman, president and CEO was quoted in the press release in stating: “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."
The combination of Seagate and LaCie seems odd a first, because LaCie does not manufacture their own drives (so it’s not a hard drive patent portfolio Seagate is after); but they are actually complementary services. While Seagate has the hard drive storage down, LaCie has a lineup of drive enclosures and NAS boxes. By combining the two, Seagate can manufacture the drives and the enclosures themselves. Seagate does currently have a few enclosures but their expertise is primarily in the drive technology itself. The opposite is true to Lacie, so the two companies coming together is a good thing for Seagate. One thing that LaCie has done that instantly benefits Seagate is focusing on high end and premium drive enclosures. While Seagate has focused on low and midrange drive enclosures, LaCie has solely focused on high end. This is beneficial because Seagate can integrate those higher profit margin premium LaCie products into their lineup without the need for extensive research and development. Whether it will also result in an improved product lineup and/or cheaper products for consumers remains to be seen, but it has the potential to be a good thing.
Subject: Storage | January 20, 2012 - 01:50 PM | Jeremy Hellstrom
Tagged: thunderbolt, LaCie, Little Big Disk, ssd, external drive
Thunderbolts and lightning have been gracing the front page of PC Perspective for a while now, the new external interfaces are well described but there is a lack of products on the market to review. Hopefully that will change soon as there is little point of having an interface with nothing to plug into it. LaCie is one of the few to have actually managed to get a product to market, a Thunderbolt connected external 240GB SSD version of their Little Big Disk. It was certainly fast in the testing that TechReviewSource performed but it does leave one with a question, who needs to back up 200GB in a big hurry and is willing to spend over $900 for the ability to do so?
"The LaCie Little Big Disk Thunderbolt (240GB SSD) is currently the least expensive way to obtain Thunderbolt speeds for your late-model Mac. It's half the price of the Promise Pegasus R6, the only other Thunderbolt drive on the market, but that doesn't mean it's cheap."
Here are some more Storage reviews from around the web:
- Solid State Drive Roundup @ circuitREMIX
- Patriot Pyro SE 240GB Solid State Drive @ Tweaktown
- Super Talent TeraDrive Nova 240GB SATA 3 @ SSD Review
- Corsair Performance Pro 256 GB SSD @ techPowerUp
- Corsair Performance Pro 256GB SSD Review @ Hardware Canucks
- RAID 0 of SSDs: Two Kingston HyperX 120 GB SSDs vs. Kingston HyperX 240 GB SSD @ X-bit Labs
- Seagate Momentus XT 750GB SATA III Hybrid Disk Drive Review @ Real World Labs
- Thecus N5500 5 Bay NAS Server Review @ Legit Reviews
- Super Talent USB 3.0 DataGuardian 32GB Flash Drive Review @ Madshrimps
- Wireless Storage: Kingston Wi-Drive 16 GB & Seagate GoFlex Satellite 500 GB @ Bjorn3D
- Verbatim USB3.0 SuperSpeed external HDD with controller card @ Metku
- Kingston DT 109 @ Hardwarebistro