The deal will cost Seagate $186 million for 64.5 percent of LaCie's stock. LaCie CEO Phillippe Spruch will join Seagate as Director of Consumer Storage Products.
It's not yet clear what form the LaCie brand will take under its new ownership. In a press release, Seagate said it plans to work with LaCie launch a new line of premium-branded consumer hard drives.
Founded in 1989, LaCie built a reputation for collaborating with renowned industrial designers to create hard drives that were as distinct as they were robust. The California-based Seagate is the world's largest manufacturer of hard disk drives.