Western Digital to spin-off its HDD and flash businesses.

Western Digital, an American computer drive manufacturer and data storage company, is set to spin-off its HDD and flash businesses. Financial terms were not disclosed. "Our HDD and Flash businesses are both well positioned to capitalize on the data storage industry’s significant market dynamics, and as separate companies, each will have the strategic focus and resources to pursue opportunities in their respective markets. Importantly, separating these franchises will unlock significant value for Western Digital shareholders, allowing them to participate in the upside of two industry leaders with distinct growth and investment profiles," David Goeckeler, Western Digital CEO.