As per a latest update, Seagate Technology and LaCie have announced an exclusive agreement with the intent for Seagate to acquire a controlling interest in LaCie, which is a French consumer storage company. If reports are to be believed, the deal will close for whopping $186 million. 

A person having detailed information about the matter has informed our team that LaCie’s Chairman and CEO Philippe Spruch will join Seagate as the leader of the company’s consumer storage products division after the latest acquisition. 

The transaction would combine two highly complementary product and technology portfolios. It is adding LaCie’s line of premium branded consumer storage solutions, network-attached storage solutions and software offerings to Seagate’s array of mainstream consumer storage products. 

Market watchers believe, the latest acquisition would accelerate Seagate’s growth strategy in the expanding consumer storage market, particularly in Europe and Japan, and add strong engineering and software development capabilities, as well as relationships with several key retailers.

Hence, the deal is expected to prove beneficial for both the candidates. 

Analysts further added, this is not the first time when Seagate made any acquisition. The Seagate-LaCie acquisition is the latest in a series of mergers of storage companies. . Early back in December 2011, Seagate acquired Samsung’s hard drive business.