IT Updates

According to a latest update, Western Digital has completed the acquisition of the hard drive business of Hitachi, and set up two subsidiaries with separate brands and products, to meet the conditions of antitrust regulators.
Sources informed that WD has completed the acquisition of Viviti Technologies Ltd. (formerly Hitachi Global Storage Technologies) in US$3.9 billion in cash and 25 million shares of its common stock valued at about $0.9 billion and is effective from March 8, 2012. 
After the latest acquisition, Hitachi now owns 10 percent of Western Digital's shares outstanding and has the right to designate two members to the board of directors of WD.
It is reportedly said that the new WD will operate with WD Technologies (WDT) and HGST as wholly owned subsidiaries.
It is worth noticing that Western Digital had announced the proposed acquisition in March last year. But its completion was delayed largely because of the need for regulatory clearances. 
However, Western Digital did not immediately respond to a request for comment