Seagate Technology, manufacturer of storage computer hardware, has almost completed its acquisition of Maxtor Corporation, a one-time competitor in consumer and enterprise hard disk drive market. Apparently, the merger — announced late last year — has now been approved by shareholders and will close within the week.

The deal is valued at around US$1.9 billion, as part of which Maxtor shareholders will receive 0.37 Seagate shares for each Maxtor share they owned. This does spell bad news for the employees, however.