The Federal Trade Commission has granted approval for IBM to sell its hard-drive business to Hitachi, the companies said Monday.
I thought it was a done deal when it was announced several months ago, but apparently I was wrong. Details:
The Japanese conglomerate and the U.S. tech giant announced the deal in June. Plans call for a new company to be created, owned 70 percent by Hitachi and 30 percent by IBM. IBM will receive $2.05 billion for the business, which is expected to take three years to transfer. The company would have about 24,000 employees and would be based in San Jose, Calif.