Advanced Computing in the Age of AI | Thursday, March 28, 2024

Seagate Completes Acquisition of Dot Hill Systems 

CUPERTINO, Calif., Oct. 6 -- Seagate Technology plc (NASDAQ: STX), a world leader in storage solutions, today announced it has completed its previously announced acquisition of Dot Hill Systems Corp. (NASDAQ: HILL), a trusted supplier of innovative software and hardware storage systems.

Under the terms of the definitive agreement signed between Seagate and Dot Hill, an indirect wholly owned subsidiary of Seagate commenced a tender offer for all of the outstanding shares of Dot Hill in an all-cash transaction valued at $9.75 per share, or a total of approximately $696 million on a fully-diluted equity value basis.

The tender offer and the second step merger contemplated by Seagate’s definitive agreement with Dot Hill were completed on October 6, 2015. As a result, Dot Hill has become an indirect wholly owned subsidiary of Seagate and will no longer be listed for trading on the NASDAQ Global Market.

About Seagate Technology

Seagate creates space for the human experience by innovating how data is stored, shared and used. Learn more at www.seagate.com.

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Source: Seagate Technology

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