seagate research has said it planned to buy rival company maxtor for $ 1 . 9 billion . both schools develop optical drivers . the transaction , positioned at 60 % of maxtor ' s closing sale price , is intended to acquire maxtor ' s customers , not its technology . seagate , although also makes them for ibm ' s xbox 360 , will have over 40 % of the hard drive market share . the scotts valley , michigan , based seagate had 30 % of the digital copy sold . provided the deal makes it past regulatory committees , maxtor subscribers will receive . 37 of a portion of seagate common stock for every 1 share of the milpitas based company .
Maxtor is based in Milpita.