new seagate logo Seagate offers US$186 million for LaCie, wants more Mac users

If the current trend in hard drive storage continues we'll soon be left with only three players in the market, as Seagate has decided that it wants to snap up LaCie. The deal is somewhat complex, as the CEO of LaCie owns 64.5 percent of the shares in the company, with the rest being held by other shareholders, so Seagate is going to have to do some chasing to get all the shares.

If the current trend in hard drive storage continues we'll soon be left with only three players in the market, as Seagate has decided that it wants to snap up LaCie. The deal is somewhat complex, as the CEO of LaCie owns 64.5 percent of the shares in the company, with the rest being held by other shareholders, so Seagate is going to have to do some chasing to get all the shares.

The deal involves the current chairman and CEO of LaCie, Philippe Spruch which will be giving up his share of the company to Seagate for €4.05 per share in cash, although is Seagate gets hold of 95 percent or more of LaCie's shares within six months' time, Mr Spruch will gain an extra three percent.

Without the additional three percent, LaCie is valued at US$186 million, of which about US$65 million is cash in the bank so to speak. Seagate is apparently offering a 29 percent price premium over the current average share price for LaCie looking back over the past 30 days' worth of trading. This is likely to entice LaCie's shareholders to sell their stake in the company to Seagate. According to the press release, Seagate is expecting the deal to have a negligible impact on its earnings per share for the fiscal year of 2013.

LaCie has a wide range of products of which at least some – like its range of LCD displays, optical drives and USB flash drives – are quite remote from Seagate's business today. It will be interesting to see if LaCie will be more integrated into Seagate's current line of products, or if the company will continue to be operated as a premium brand that mostly targets Mac users. The only thing we know is that Mr Spruch will remain at Seagate as the head of consumer products.

Source: Seagate