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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 26, 2000
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SEAGATE TECHNOLOGY, INC.
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(Exact Name of the Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
001-11403 94-2612933
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(Commission File Number) (I.R.S. Employer Identification No.)
920 Disc Drive, Scotts Valley, California 95066
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(Address of Principal Executive Offices) (Zip Code)
(831) 438-6550
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
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On January 26, 2000, Seagate Technology, Inc. a Delaware corporation
("Seagate"), announced that it has entered into a Settlement Agreement
("Agreement") with Rodime PLC regarding a patent infringement complaint filed by
Rodime PLC against Seagate on November 18, 1992. Pursuant to the Agreement,
Seagate will be released from all patent and tort claims in exchange for a one
time payment of $45 million. A copy of Seagate's Press Release is attached
hereto as Exhibit 99.1, and is hereby incorporated by reference herein.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits
Exhibit
Number Description
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99.1 Press Release dated January 26, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: January 27, 2000
SEAGATE TECHNOLOGY, INC.
By: /s/ William L. Hudson
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William L. Hudson
Senior Vice President, General
Counsel and Corporate Secretary
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SEAGATE TECHNOLOGY, INC.
FORM 8-K
INDEX TO EXHIBITS
Exhibit
Number Description
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99.1 Press Release dated January 26, 2000
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For Immediate Release For Further Information Contact:
Julie Still (831) 439-2276
[email protected]
Woody Monroy (831) 439-2838
[email protected]
SEAGATE AND RODIME ENTER INTO SETTLEMENT AGREEMENT
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SCOTTS VALLEY, CA -- January 26, 2000 - Seagate Technology, Inc. (NYSE:SEG)
today announced that the Company has agreed to settle with Rodime PLC regarding
a patent infringement complaint relating to certain discontinued 3.5-inch drives
filed by Rodime against Seagate on November 18, 1992. Pursuant to the
agreement, Seagate shall be released from all patent and tort claims in exchange
for a payment of $45 million.
Stephen Luczo, Seagate's president and CEO, stated "We maintain the position
that Seagate had meritorious defenses to Rodime's claim. However, given the
uncertainty associated with leaving such a technically complex matter in the
hands of a jury with no expertise in disc drive technology, Seagate has
compromised this claim to mitigate this uncertainty."
A charge associated with this settlement will be reflected in Seagate's Form 10-
Q for the quarter ended December 31, 1999.
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Seagate Technology, Inc. (NYSE:SEG) is a leading provider of technology and
products enabling people to store, access, and manage information. The Company
is committed to providing best-in-class products to help people get information
when, where and how they want it. Seagate is the world's largest manufacturer of
disc drives, magnetic discs and read-write heads, an innovator in tape drives,
and a leading developer of Business Intelligence software. Seagate can be found
around the globe and at http://www.seagate.com. For automated news, stock and
financial information by phone, dial toll-free 877-SEG-NYSE. Outside the U.S.
and Canada, dial 760-704-4368.
