Control Data Unit Sold: Seagate Technology Inc....

Control Data Unit Sold: Seagate Technology Inc. has agreed to acquire the data storage products subsidiary of Control Data Corp. for about $450 million in cash and securities. Seagate, based in Scotts Valley, Calif., said in a letter of intent that it would pay $250 million in cash, 10.7 million shares--about a fifth of its total outstanding stock--and $50 million in promissory notes for Imprimis Technology Inc., based in Minneapolis. Seagate said a definitive agreement should be reached over the next few weeks, if regulatory agencies and the boards of both companies approve.