San Jose, Calif. — Hitachi Global Storage has entered into an agreement to buy storage maker Fabrik for an undisclosed sum.
Fabrik, a privately held firm, manufactures external hard drives under the SimpleTech and G-Technology brands. The deal is expected to close during the second quarter of 2009.
Hitachi said Fabrik will continue to operate intact and will maintain its two brands at retail.
Hitachi GST had primarily been an OEM hard drive manufacturer, and the Fabrik venture will help bring the company further into the retail side of the business.
“It strategically expands our market presence, strengthens our product portfolio, and increases our customer base,” said Steve Milligan, president of Hitachi GST. “Fabrik is a key component of our growth and profit strategy going forward and will enable us to deliver a differentiated set of products across a broad range of end-user market segments.”
Fabrik’s CEO and co-founder Mike Cordano will join Hitachi in an as-yet-unnamed executive capacity.