Seagate Technology, a world leader in storage solutions, today announced the completion of previously announced acquisition of Dot Hill Systems Corp., a trusted supplier of innovative software and hardware storage systems.
Under the terms of the definitive agreement signed between Seagate and Dot Hill, an indirect wholly owned subsidiary of Seagate commenced a tender offer for all of the outstanding shares of Dot Hill in an all-cash transaction valued at USD 9.75 a share, or a total of approximately USD 696 million on a fully-diluted equity value basis.
The tender offer and the second step merger contemplated by Seagate's definitive agreement with Dot Hill were completed on Oct. 6, 2015.
As a result, Dot Hill has become an indirect wholly owned subsidiary of Seagate and will no longer be listed for trading on the NASDAQ global market.