The mechanical hard drive sector has been consolidating rapidly to help combat the rise of SSDâ€™s, and as of today we officially have one less player. Seagate has succeeded in acquiring a controlling share of LaCie stocks, although they may end up paying slightly more than the â‚¬4.05 per share that they initially disclosed. Assuming Seagate manages to accumulate a 95 percent share in the company, the price could jump to â‚¬4.17, but this will also net them full control over their French rival.
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Seagate currently only holds around 65 percent of the company, however this is more than enough to declare them the new official owners of LaCie. The merger should help them resist any potential takeover attempts from Western Digital, but it certainly wonâ€™t help those who feel the consumer hard drive market has already consolidated down to the point where itâ€™s no longer competitive.