Toshiba and Fujitsu have announced an agreement today that will have Fujitsu transferring its HDD operations businesses to Toshiba. The agreement comes after the signing of an agreement on February 17, 2009.
The two companies plan to have the transfer finished by July 1, 2009. The Fujitsu operations will be transferred to a new Toshiba company called Toshiba Storage Device Corporation. The assets and multiple storage companies held by Fujitsu will all become part of the new company.
Once the transfer is complete Toshiba will handle sales and marketing of the HDD products including Fujitsu branded products and except for a few all Fujitsu sales and marketing offices will be owned by Toshiba as well. Toshiba will own 80.1% of the company by July 1, 2009 with Fujitsu continuing to hold 19.9% until the end of December 2010 when it will transfer all shares to Toshiba.