Seagate’s Diminishing Earnings Speculate Buyout Potentiality
Speculations on the dim earnings of Seagate, one of the most important hard drive and storage solutions manufacturer, have been explained by Steve Luczo, Chief Executive Officer, referring to ‘weak consumer spending in the U.S. and Europe and “ample availability of hard drives during the quarter’, as well as better solutions offered by competitors such as Apple and their successful iPad.
Seagate Technology PLC is said to have been in talks for buyout with Kohlberg Kravis Roberts & Co and Bain Capital, but representatives avoid discussing this approach.
A number of other companies in this industry have seen strong gains for the third quarter, indicating going interest in tech. Seagate recently went private. Read here for some great insight to Seagate’s recent developments.
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