Seagate to Buy Quinta for Up to $325 Million

Seagate Technology Inc. said it will buy Quinta Corp., a developer of technology to boost the performance of sophisticated computer disk drives, for as much as $325 million. The world’s largest independent maker of disk drives would pay $230 million in cash for closely held Quinta and add as much as $95 million if the company meets development goals. Scotts Valley-based Seagate would take a charge of $180 million to $215 million for San Jose-based Quinta’s in-process research when the acquisition is completed. The purchase would give Seagate access to Quinta’s optically assisted Winchester technology, which Seagate hopes to use to build a new class of high-capacity disk drives. Seagate shares rose $1.875 to close at $36.875 on the New York Stock Exchange.