seagate technology has explained it intends to buy rival company maxtor for $ 1 . 9 bn . both businesses produce hard data . the deal , price at 60 % of maxtor ' s closing shares offer , is intended to acquire maxtor ' s customers , not its devices . micron , which only makes drives for microsoft ' s xbox 360 , will have over 40 % of the hard disks marketing shares . the scotts bay , california , said seagate had 30 % of the digital drive market . assuming the acquisition works it past regulatory committees , maxtor shareholders will receive . 37 of a share of seagate shared market for another 1 share of the menlo based company .
Maxtor is based in Milpita.