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Technology Stocks : Seagate Technology

STX 283.26

-1.6%

4:00 PM EST

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To: DJBEINO who wrote (7241)	4/26/1999 6:54:00 PM
From: DJBEINO	Read Replies (1) of 7841

Seagate (SEG: news, msgs) Chief Administrative Officer Donald Waite said that five strategic North American distributors will implement a distribution program during the fourth quarter. The "revenue impact will be under $100 million" in the quarter, he said. Waite also put the value of Seagate's buy of Veritas (VRTS: news, msgs) at $2.1 billion to $2.8 billion. Seagate will own approximately 42 percent of the new Veritas, he said. Waite also said Seagate will also record a fourth-quarter one-time gain of between $1 billion and $1.4 billion due to the Veritas transaction. That includes $200 million in charges. cbs.marketwatch.com

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