Chinese Company Interested in Buying Seagate

An unnamed Chinese technology company has shown interest in acquiring disk drive maker Seagate Technology, which owns about 30% of the world market share in the sector. The possibility of such a transaction raises concerns among U.S. officials about potential national security risks regarding the transferral of such industry-leading high technology to China. Seagate CEO William Watkins noted that Seagate was not for sale, but that if a high enough premium were offered to shareholders it would be difficult to stop. Government officials emphasized that while disk drives do not fall under a list of export-controlled technologies, moves to purchase a U.S. disk drive company would require a security review by federal officials.

News source: eWeek

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