Hitachi Seeking Buyer for $1.3 Billion Data-Storage Unit (1)

Hitachi Ltd. is soliciting bids for a sale of its Hitachi Vantara data-storage business at a valuation of as much as ¥200 billion yen ($1.3 billion), people with knowledge of the deliberations said, as it seeks to focus on higher-margin operations.

The Japanese electronics conglomerate has hired an adviser and distributed materials on the data storage and infrastructure unit to interested parties, said the people, who asked not to be identified because the information isn’t public.

Hitachi Vantara may be worth ¥150 billion to ¥200 billion in a sale, they added. A private equity investor is seen as the most ...