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Sunday: March 13, 2005 |
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IBM Corporation Hitachi and IBM Complete Hard Disk Drive Agreement SAN JOSE, Calif. -- Dec. 31, 2002 -- IBM today announced it has completed an agreement to combine its hard disk drive operations with Hitachi's, forming a new company called Hitachi Global Storage Technologies. Under the agreement, Hitachi has purchased the majority of IBM's HDD-related assets for $2.05 billion. As planned, Hitachi paid 70 percent of the purchase price to IBM today. Hitachi will pay the remainder to IBM over the next three years. ### |