Seagate makes equity investment in DensBits
New Delhi: Digital storage device maker Seagate Technology on Tuesday said it has made equity investment in electronic memory card firm DensBits Technologies.
The amount was not disclosed.
The two companies also entered into an agreement to jointly develop low-cost Solid State Drives (SSD) that are used in computer and other electronics product for the consumer and enterprise markets.
"Seagate is excited to be working with the talented DensBits team and believes we have a significant opportunity with our new strategic relationship to extend our leadership into the SSD market," Seagate chief sales and marketing officer Rocky Pimentel said in a statement.
Under the agreement, Seagate will integrate a DensBits' technology in its various storage products.
"We strongly believe that the coupling between DensBits' unique Memory ModemTM controller technology and Seagate's storage capabilities across the board could truly disrupt the industry," DensBits,”Chairman and CEO Ilan Hen said.