Seagate made a blockbuster move when it announced plans to purchase rival hard drive manufacturer Maxtor for $1.9 billion.

CEO Bill Watkins announced that Seagate will continue to search for more companies to acquire in the future. On the top of the list of potential targets are software companies and companies that integrate different software and chip technologies into hardware systems.
Seagate, with its acquistion of Maxtor, now owns more than 40 percent of the hard drive market.

This news article was written on January 6, 2006, quoting Reuters.