Seagate Technology is attempting to take control of LaCie SA for €146 million ($186 million) in cash. The move would allow the hard drive maker to gain better access to channels in Europe and Japan while extending its full line of product offerings.

Seagate executives have reportedly agreed to pay for 64.5% of LaCie’s outstanding shares which are held by CEO Philippe Spruch and his affiliates. The cost per share is estimated to be  €4.05. Based on those numbers Seagate is valuing LaCi with a 29% premium compared to Tuesday’s closing stock price.

When the deal is completed Seagate plans to purchase the company’s outstanding shares which could raise its case offer to €4.17 if it reaches a 95% ownership stake and voting rights within six months of closing.

While Seagate will gain control of all LaCie’s product lines the biggest win for the company will be gaining access to LaCie’s strategic partners including key retailers throughout Japan and Europe.

While Philippe Spruch will sell his shares in the company he is expected to stay on-board, leading the consumer storage-products division. Speaking in a joint statement Mr. Spruch said of the acquisition:

“We are excited about the potential for this combination to benefit customers and employees by creating significant scale and opening up new markets.”

If the acquisition passes governmental review the deal is expected to close before the end of Q3 2012.

Seagate in the meantime has seen a surge in demand throughout 2012, that demand follows a 2011 slowdown after flooding in Thailand severely limited the ability of many manufacturing plants to produce storage based devices for various manufacturers.

Seagate Gaining Control Of LaCei SA For $186 Million is a post from: The Inquisitr