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Seagate Technology

BUSINESS
March 30, 2000 | DUNCAN MARTELL, REUTERS
Seagate Technology Inc. announced a $20-billion transaction Wednesday that would take the world's largest computer disk-drive maker private and sell its 33% stake in fast-growing Veritas Software Inc. back to Veritas. Under the complex deal, Veritas, a Mountain View, Calif.
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BUSINESS
September 4, 1999 | Bloomberg News
Seagate Technology Inc. said it will buy the rest of its software unit, gaining control of an investment it can use for acquisitions or sell to raise cash. The company will acquire the 6.5% of its Seagate software unit it doesn't now own for 8 million shares, or about $280 million, and take a $216-million charge as a result. Seagate also will get full ownership of 61 million shares of Veritas Software Corp. shares, valued at about $4 billion, owned by the software unit.
BUSINESS
July 19, 1999 | JONATHAN GAW, Jonathan Gaw covers technology and electronic commerce for The Times. He can be reached at (714) 966-7818 and at jonathan.gaw@latimes.com
Continuing the digital version of the quest to find how many angels can fit on a pin, Seagate Technology Inc. today announces that it can now pack enough data on a normal floppy disk to play music continuously for more than 22 days. The breakthrough, squeezing 23.
BUSINESS
July 19, 1999 | JONATHAN GAW
Continuing the digital version of the quest to find how many angels can fit on a pin, Seagate Technology Inc. today will announce that it can pack enough data on a normal floppy disk to play music continuously for more than 22 days. The breakthrough, squeezing 23.
BUSINESS
October 28, 1998
Seagate Technology Inc., the world's largest independent maker of computer disk drives, said it will close its semiconductor factory in Livingston, Scotland, next year, eliminating 263 jobs. Seagate failed to find a buyer for the 75,000-square-foot factory after putting it up for sale this month. The Livingston site is Seagate's only semiconductor plant. Seagate has about 86,000 employees worldwide. Shares of the Scotts Valley-based company rose 13 cents to close at $24.13 on the NYSE.
BUSINESS
October 20, 1998 | JONATHAN GAW, TIMES STAFF WRITER
Irvine-based Western Digital Corp. on Monday reported its steepest quarterly loss ever, a deficit of $194.7 million that was highlighted by a one-time charge for anticipated increases in warranty charges. The company, the third-largest independent manufacturer of computer disk drives, has been bogged down by a combination of falling prices and softer demand for desktop computers, the crisis in Asian economies and its own missteps as far back as two years ago.
BUSINESS
October 20, 1998 | JONATHAN GAW, TIMES STAFF WRITER
Irvine-based Western Digital Corp. on Monday reported its biggest quarterly loss ever, a deficit of $194.7 million, which was highlighted by a one-time charge for anticipated increases in warranty costs. The company, the third-largest independent manufacturer of computer disk drives, has been bogged down by a combination of falling prices for desktop computers, softened demand for personal computers and the crisis in Asian economies.
BUSINESS
October 15, 1998 | From Times Wire Services
LSI Logic Corp. said Wednesday that it will cut 1,200 jobs and close plants to combat the effects of a worldwide economic slowdown, as the chip maker's third-quarter profit fell 60%. The company earned $19 million, or 14 cents a share, before charges in the quarter resulted in a loss, down from $47 million, or 33 cents, a year earlier. The No. 1 maker of chips used in networking equipment had been expected to earn 13 cents a share, the average estimate of analysts polled by First Call Corp.
BUSINESS
October 7, 1998 | Reuters
Shares of Veritas Software Corp. plunged 40% as investors frowned on the software maker's purchase of a unit of Seagate Technology Inc. for about $1.6 billion in stock. Veritas shares fell $19.19 to close at $26.19 in heavy trading on Nasdaq amid worries that the Mountain View-based company was overpaying for the unit and that it may have opened the door to its own acquisition by Seagate.
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