HITACHI GST COMPLETES ACQUISITION OF FABRIK, INC.
Company Sets Stage for Continued Global Expansion
HONG KONG - April 8, 2009 - Hitachi Global Storage Technologies (Hitachi GST), today announced that it has completed the acquisition of privately held Fabrik, Inc. Fabrik's business will form the core of Hitachi GST's new Branded Business division. Fabrik's leading storage brands include G-Technology™, offering premium external storage solutions for the Apple® Mac®, content creation and professional audio/video markets; and SimpleTech™, an innovative leader in PC-based external storage and backup solutions.
Mike Cordano, Fabrik CEO and co-founder, joins Hitachi GST as executive vice president of Sales and Marketing and president, Branded Business. He will lead the Hitachi GST external storage business, as well as the company's worldwide sales and marketing organizations. Mr. Cordano is a 20-year data storage industry veteran and previously served as executive vice president of Worldwide Sales and Marketing at Maxtor Corporation.
"Completing the Fabrik acquisition strategically expands our market presence and represents the next phase of our business transformation," said Steve Milligan, president of Hitachi GST. "We are also pleased to welcome Mike Cordano and the Fabrik team to Hitachi GST. Mike's entrepreneurial approach, proven leadership and storage industry expertise will deliver superior value to our customers worldwide."
Hitachi GST will fully support the G-Technology and SimpleTech product lines, building upon their success and differentiation in the market. Both brands have clearly differentiated offerings that complement and strengthen the existing Hitachi GST hard drive portfolio.
"The Fabrik acquisition enables Hitachi GST to immediately accelerate its business growth by participating in the fast-growing personal and professional storage market," said Mike Cordano, executive vice president of Sales and Marketing and president of Branded Business, Hitachi GST. "I'm excited to join the Hitachi GST team as we work to expand the reach and range of our storage solutions worldwide."
About Hitachi Global Storage Technologies
Hitachi Global Storage Technologies (Hitachi GST) develops advanced hard disk drives, enterprise-class solid state drives, and innovative external storage solutions and services used to store, preserve and manage the world's most valued data. Founded by the pioneers of hard drives, Hitachi GST provides high-value storage for a broad range of market segments, including Enterprise, Desktop, Mobile Computing, Consumer Electronics, and Personal Storage. Hitachi GST was established in 2003 and is headquartered in San Jose, California. For more information, please visit the company's website at http://www.hitachigst.com.
About Hitachi, Ltd.
Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 390,000 employees worldwide. Fiscal 2007 (ended March 31, 2008) consolidated revenues totaled 11,226 billion yen ($112.3 billion). The company offers a wide range of systems, products and services in market sectors, including information systems, electronic devices, power and industrial systems, consumer products, logistics, materials and financial services. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.
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