Western Digital just announced that they've entered into an agreement to acquire STEC for approximately $340 million in cash. Technically STEC will be acquired by HGST (Hitachi Global Storage Technologies), which was acquired by Western Digital a little over a year ago. STEC's main focus is enterprise SSDs so it makes sense to merge STEC with HGST as HGST already has ULTRASTAR enterprise SSD lineup, whereas there are currently no SSDs under the Western Digital brand. This is a good move from both. STEC has been having financial issues for a long time and one of their biggest shareholders, Balch Hill Capital, has publicly said that the company should look for a buyer. STEC was one of the earlier players in the enterprise SSD market...

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