Hitachi Expands Into External Storage, Acquires Fabrik
Hitachi Global Storage Technologies (Hitachi GST) today announced that it has agreed to acquire Fabrik, Inc., a privately-held supplier of personal and professional storage solutions. Fabrik, whose leading storage brands include G-Technology and SimpleTech, strategically positions Hitachi in the fast-growing external storage business.
Industry analyst firm IDC expects worldwide personal storage device shipments to grow from approximately 52 million in 2008 to 123 million in 2012. Financial details of the transaction were not disclosed. Closing of the acquisition, which is subject to customary conditions, is expected to occur early in the second quarter of 2009.
Fabrik’s business will continue intact and form the core of Hitachi GST’s newly-formed external storage business. Hitachi GST will fully support the G-Technology and SimpleTech product lines, building upon their success and differentiation in the market. The combined company will also leverage operational, technical and product development resources, distribution channels and global reach to accelerate delivery of a full portfolio of traditional hard drives, solid state drives and branded personal and professional storage products.