For a while now, Seagate was planning to take over LaCie. The idea was to purchase the shares of LaCie's CEO, as well as those of his partner. Together, the two own 64.5% of the company, which would give Seagate a controlling stake. The manufacturer has since been able to purchase the shares at a price of € 4.05 (£2.59) per share. If Seagate is able to obtain 95% of the shares within six months, it will pay CEO Philippe Spruch and his partner 3% more for their shares, a price of € 4.17 (£2.67) per share.
The take over had to be approved by the French Ministry of Finance, as well as both the German and American competition agencies. These parties agreed, which gave Seagate the green light. To obtain 95% of the shares, Seagate will make an offer of € 4.50 (£2.88) per share for the remaining shares. This offer has been investigated and approved by an independent expert and is backed by LaCie's board of directors.
LaCie is of interest to Seagate because of its extensive retail channel of a wide range of peripherals, as well as flash drives, allowing Seagate to expand its product line-up more easily.