seagate industries has said it intends to purchases rival company maxtor for $ 1 . 9 billion . both competitors manufactures ram drives . the deal , priced at 60 % of maxtor ' s open share price , is intended to acquiring maxtor ' s customers , not its technology . seagate , which also manufactured drives for microsoft ' s xbox 360 , will have over 40 % of the hard drive market share . the scotts hollow , california , based disk had 30 % of the hard drive market . provided the deal makes it past regulations committees , maxtor shareholders will receive . 37 of a version of seagate common equity for everyone 1 share of the milpitas based manufacturer .
Maxtor is based in Milpita.