seagate technology has said it planned to buys fellow firm maxtor for $ 1 . 9 billion . both schools have floppy drives . the pact , priced at 60 % of maxtor ' s closing share price , is expected to acquire maxtor ' s customers , not its technology . hewlett , itself also makes drivers for pc ' s xbox 360 , will have over 40 % of the soft drive market share . the scotts valley , florida , based seagate had 30 % of the hard data market . providing the deal does it past licensing requirements , maxtor holdings will receive . 37 of a piece of seagate common stock for every 1 share of the sunnyvale based company .
Maxtor is based in Milpita.