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Seagate to buy Maxtor for $1.9 billion in stock

Dec 21, 20052 mins

Latest financial news.

Seagate to buy Maxtor for $1.9 billion in stock, 12/21/05

Hard disk drive manufacturer Seagate Technology will acquire Maxtor in an all-stock transaction worth around $1.9 billion, the companies announced Thursday.

Google pays $1 billion for 5% of AOL, 12/21/05

After flirting for months with Google competitors, AOL Tuesday reached a deal with the Mountain View, Calif., search-engine giant that expands their years-long technology and advertising partnership and ends advances from suitors, particularly Microsoft.

IBM acquires Bowstreet, 12/20/05

IBM Tuesday announced it bought portal software maker Bowstreet for an undisclosed amount.

Former Qwest CEO Nacchio indicted on insider trading, 12/20/05

Joseph Nacchio, the former co-chairman and CEO at Qwest, was indicted Tuesday on 42 counts of insider trading.

Nortel to lose another executive, 12/20/05

Nortel will lose another high-level executive, the telecom equipment company announced Tuesday. Clent Richardson, chief marketing officer at Nortel since October 2004, will leave the firm March 1.

Acer plans to celebrate 30th birthday with record sales, 12/19/05

Taiwan’s Acer expects to celebrate its 30th year in business next year by posting record high sales as the world’s fourth largest PC vendor further cuts costs, sells stock it holds in other companies, and increases its market share, it said Monday.

Is BellSouth next for Whitacre, AT&T? 12/19/05

Many in the telecom industry expect the new AT&T – the carrier formed from the merger of the old AT&T and SBC – to continue to acquire companies and assets. One target that is named frequently is BellSouth, a prospect that inevitably would raise …

BellSouth to slash 1,500 managers, 12/16/05

BellSouth this week said it will layoff 1,500 managers to better compete “in the competitive broadband marketplace.”

Visto sues Microsoft over wireless e-mail patents, 12/15/05

Visto has filed a lawsuit against Microsoft, accusing it of improper use of patented Visto technologies in Microsoft’s software for accessing e-mail from phones and other wireless devices.

Visto signs license for disputed NTP patents, 12/15/05

Visto, a challenger to Research In Motion in the push e-mail market, has signed a license for the wireless e-mail patents held by NTP, the companies announced Wednesday.

Microsoft sues MAPS partners, systems builders, 12/15/05

Microsoft has filed seven lawsuits against partners for allegedly violating their Microsoft Action Pack Subscriptions contracts by reselling software meant for internal use only and for other activities, the company said Thursday. It’s the first time …