After months of negotiations and ironing out the details, Toshiba and Fujitsu have put their John Hancocks on the appropriate papers to make Toshiba's take over of Fujitsu's multinational hard drive design manufacturing business a done deal, eWeek.com reports .
The two sides had hoped to seal the deal by July 1, but it took longer than expected to finalize the details. Neither side has disclosed financial terms of the buyout, but according to Toshiba, the buyout propels the company to the top of the storage heap.
"Effectively, the deal makes Toshiba the world's largest full-service data storage supplier, when taking into account hard disk drives, solid-state NAND flash disks, optical disk drives, software, and everything else the company provides," Toshiba marketing executive Scott McCabe told eWeek.
Equally important, the deal pushes Toshiba into the enterprise HDD market, a sector the company has been trying to break into for years.
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