Hitachi Global Storage Technologies, better known as Hitachi GST, recently expanded its business by acquiring Fabrik Inc., a supplier of personal and professional storage solutions.
According to a press release, “Fabrik — whose leading storage brands include G-Technology and SimpleTech — strategically positions Hitachi in the fast-growing external storage business. Fabrik’s business will continue intact and form the core of Hitachi GST’s newly-formed external storage business.”
Though the financial details of the acquisition were not released, the business transaction is expected to be completed during the second quarter of 2009.
“We acquired Fabrik because it provides Hitachi GST with immediate access to the fast-growing external storage business,” said Brendan Collins, vice president of product marketing for Hitachi Global Storage Technologies. “Due to the explosive growth of personal, professional and commercial digital content, the long-term demand and forecast for personal storage is strong.”
In fact, research from IDC shows that personal storage device shipments around the world are expected to more than double by the year 2012, Collins said.
“Fabrik’s established consumer and professional brands, proven management team, strong product road map and Tier 1 customer base integrate well with Hitachi GST,” Collins added.
The company has had to set in place some short- and long-term business goals as a result of the acquisition.
“We will be focused on the integration process in the short-term,” Collins said. “Beyond that, we will look for opportunities to expand the Fabrik business into Asia and Europe, leveraging Hitachi GST development resources and worldwide distribution channels.”
Apart from company goals, this acquisition does have an impact on the IT storage industry as a whole.
“The amount of digital information being created, captured and duplicated around the world [is] growing at a phenomenal pace,” Collins said. “The trend is creating an entirely new landscape for consumer data storage and has resulted in personal storage becoming the fastest-growing segment of the hard-drive industry. Hitachi GST’s acquisition of Fabrik further validates this trend.”
– Deanna Hartley, email@example.com