View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
September 21, 1995


By CBR Staff Writer

In a day of stunning acquisition moves, Seagate Technology Inc moved to leap back ahead of Quantum Corp to the number one spot in the disk drive business by winning agreement in principle to acquire Conner Peripherals Inc in a share exchange. Conner shareholders would receive 0.442 of a Seagate share for each of their Conner shares, valuing the company at an indicated $21 a share, $1,119m all told, against a price in the market ahead of the announcement of $17.25, a price to which it had risen on ill-founded gossip that Samsung Electronics Co was the suitor. Seagate reported turnover of $4,540m in its 1994 fiscal year and Conner had turnover of $2,400m in fiscal 1994; the number two and number three disk manufacturers in the US coming together may well be a cause for concern for anti-trust authorities.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.