Seagate Wraps Up Maxtor Acquisition

Scotts Valley, Calif.-based Seagate said the integration of Maxtor is expected to be "substantially completed" by early next year. Maxtor stock has ceased to trade on the New York Stock Exchange, according to Seagate.

Seagate announced last December that it had reached a deal to buy Maxtor for $2 billion. Earlier this year, the deal won final approvals from government regulators as well as shareholders of both companies.

Seagate said it expects the Maxtor acquisition to be 10 percent to 20 percent accretive to Seagate on a cash earnings-per-share basis after the first year as a combined company.