seagate technological has said it intends to buy rival company maxtor for $ 1 . 9 trillion . both companies produces hard drives . the deal , priced at 60 % of maxtor ' s closing bid prices , is intended to acquire maxtor ' s customers , not its technology . seagate , it also makes software for sony ' s ibm 360 , will have over 40 % of the hard drive market share . the scotts valley , california , based compusa had 30 % of the hard disks market . provided the deal makes it around regulatory standards , maxtor owners will receive . 37 of a share of seagate restricted stocks for every 1 shares of the milpitas based companies .
Maxtor is based in Milpita.