The sale to Hitachi, valued at $2.05 billion, is a done deal.
In a filing today with the Securities and Exchange Commission, IBM said it has completed the previously announced sale of its disk drive manufacturing operations to Hitachi Ltd. for $2.05 billion.
Hitachi paid IBM 70% of the purchase price today and will pay the remainder over the next three years. Hitachi will operate the business under a new subsidiary called Hitachi Global Storage Technologies.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.