IBM SAID it has completed the transfer of its hard drive division to Hitachi.
It closed the deal to sell its hard drive related businesses for $2.05 billion yesterday, with Hitachi coughing up 70 per cent of this money to IBM yesterday.
It will pay IBM the rest of the money over a three year period.

This all feels so strange; I mean, IBM invented the harddrive!
Oh well, guess this is the way of competition...

Here's IBM's own history of storage.
Thanks to The Inquirer for the news heads up!