Dec 30, 2002 (07:12 PM EST)
IBM Completes Disk Drive Sale

Read the Original Article at InformationWeek

In a filing today with the Securities and Exchange Commission, IBM said it has completed the previously announced sale of its disk drive manufacturing operations to Hitachi Ltd. for $2.05 billion.

Hitachi paid IBM 70% of the purchase price today and will pay the remainder over the next three years. Hitachi will operate the business under a new subsidiary called Hitachi Global Storage Technologies.