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Xyratex, the Havant-based data storage firm, has been acquired by US-based Seagate for £228m.

Xyratex, the Hampshire-based supplier of hard disks with 600 staff, has undergone a management buy-out backed by HgCapital.

Xyratex has announced plans to expand its electronics research facilities in Havant with the creation of 950 jobs, as part of a £35m scheme that will also see the development of a new B&Q Warehouse at the site.

Xyratex of Hampshire has sold its flexible circuit division to Adflex Solutions of the US for $56m.