Seagate Completes Xyratex Acquisition

(RTTNews) - Seagate Technology plc (STX) said Monday that it has completed its acquisition of data storage technology provider Xyratex Ltd (XRTX).

Seagate expects revenue contribution from the acquisition to be between $500 million and $600 million, and for the acquisition to be neutral to earnings per share in its fiscal year 2015, ending July 3, 2015.

Xyratex shares are expected to be delisted from the Nasdaq stock market immediately following the closing.

In December, Seagate agreed to acquire all outstanding shares of Xyratex in an all-cash deal valued at $13.25 per share, or around $374 million.