By Himank Sharma
July 30 Hard disk drive marker Seagate
Technology plc is looking to acquire smaller rivals to
boost its presence in the solid-state drive (SSD) business, a
top executive told Reuters.
Chief financial officer Pat O'Malley said the company would
be interested in buying an SSD maker that has a "significant"
share of the enterprise market.
"We look at all technology product providers (for M&A) but
what I would say is that on the enterprise SSDs, there's
probably only one of them that really makes any significant
money," he said in response to a question about Seagate's
interest in OCZ Technology.
O'Malley denied to specifically comment on speculation about
any talks with OCZ.
Earlier this month, OCZ shares jumped on reports that
Seagate is nearing a deal to buy the SSD maker. It's shares have
gained almost 40 percent in value since then.
"We don't do any comments on official policy on M&A until
it's done," he said.
Seagate and rival Western Digital Corp dominate the
market for hard disk drives (HDD) used in computers, but were
late in adopting SSDs - a faster but expensive technology.