Seagate Technology (NASDAQ:STX) is expanding its business this morning. The hard-drive maker is buying a controlling stake in French consumer storage company LaCie for $186 million. Seagate announced they will be buying shares held by LaCie Chairman & CEO Phillippe Spruch and his affiliate. The shares represent 64.5% of the outstanding shares of LaCie, giving Seagate a controlling stake in the company.They are offering 4.05 Euro per share, a 29% premium to LaCie’s average closing stock price over the 30 days ended May 22. The deal is expected to close in the third quarter of 2012, pending regulatory approvals. Seagate says the deal with accelerate their growth in the expanding consumer storage market. Currently, Seagate shares are down on this news, almost 2% lower to $25.90 in early trading.
