seagate technology has reported it intends to purchase rival company maxtor for $ 1 . 9 million . both company produce video drivers . the pact , priced at 60 % of maxtor ' s closure share price , is meant to acquire maxtor ' s services , not its technology . seagate , which specifically make sales for microsoft ' s xbox 360 , will have over 40 % of the hard disc market shares . the scotts gorge , california , - seagate had 30 % of the hard drive market . if the offer makes it pass licensing regulations , maxtor shareholders will receive . 37 of a majority of seagate common , for every 1 stake of the calif.-based based company .
maxtor is based in milpita .