Tandon Completes Sale of Disk-Drive Businesses
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Tandon has completed the previously announced sale of virtually all of its disk-drive data-storage business to Western Digital of Irvine.
Tandon, based in Chatsworth, received $49 million in cash. In addition, Western Digital assumes $28 million of Tandon’s bills.
The sale makes Tandon almost exclusively a maker of IBM-compatible personal computers. It also gives Tandon a much-needed infusion of cash, which has dwindled as the company expanded into the computer market over the past two to three years.
Tandon said it will receive disk drives from Western Digital under “very competitive terms and conditions” and will retain rights to a removable disk drive it developed.
Western Digital, which makes equipment that controls various functions in the computer such as data storage, receives Tandon’s hard disk-drive manufacturing plants in Singapore, Santa Clara and San Jose. The disk drives are devices that store and retrieve data magnetically in personal computers.
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