tal of Viviti Technologies Ltd., known until shortly before the Acquisition as HGST, from Hitachi, Ltd. ("Hitachi"),
pursuant to a Stock Purchase Agreement, dated March 7, 2011, among us, WDI, Hitachi and HGST. The Acquisition
is intended over time, and subject to compliance with the regulatory conditions discussed below under "Maintenance
of Competitive Requirement," to result in a more efficient and innovative customer-focused storage company. We do
not expect to achieve significant operating expense synergies while the regulatory conditions are in effect.
Based on a final post-closing adjustment, the cash portion of the purchase price decreased by a net $27 million as a
result of $37 million we received during 2013 for a post-closing adjustment related to changes in the working capital
of HGST, partially offset by $10 million we paid during 2013 for a post-closing assumed pension adjustment. The
purchase price was finalized prior to March 8, 2013, which was the final date of the 12 month measurement period
following the date of the Acquisition.
chase Toshiba Storage Device (Thailand) Company Limited ("TSDT"), a wholly owned subsidiary of Toshiba that
manufactured hard drives prior to the Thailand flooding. The net impact of these two transactions was immaterial to
our consolidated financial statements. In August 2013, we received a $45 million insurance recovery related to facili-
ties acquired in connection with the acquisition of TSDT.
tain HGST as an independent competitor until MOFCOM agrees otherwise (with the minimum period being two
years from the Closing Date). We worked closely with MOFCOM to finalize an operations plan that outlines in more
detail the conditions of the competitive requirement.
$207 million in enterprise value, net of sTec's cash as of March 31, 2013. The pending acquisition when completed
will augment HGST's existing solid-state storage capabilities, accelerating its ability to expand its participation in the
rapidly growing area of enterprise SSDs. The pending acquisition, which is subject to closing customary conditions, is
expected to be completed in the third or fourth calendar quarter of 2013.
(personal computer) markets, which include enterprise applications, branded products and CE products, as compared