Hitachi is going to sell its HDD (Hard Disk Drive) unit, Hitachi Global Storage Technologies, to Western Digital for US$4.3 billion in cash and stock, according to a March 8, 2011 report by the Japan Today. Boards on both sides have approved the acquisition deal, which is scheduled to be finalized in September this year. It is reported that after the closing of the deal, Hitachi will own approximately 10% of Western Digital. Hitachi purchased the HDD unit from IBM for US$2.05 billion in 2002.