{"id":653428,"date":"2025-02-13T20:50:19","date_gmt":"2025-02-13T17:50:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/seagate-acquires-intevac-which-makes-equipment-for-hard-disk-drives-for-119m\/"},"modified":"2025-02-13T20:50:19","modified_gmt":"2025-02-13T17:50:19","slug":"seagate-acquires-intevac-which-makes-equipment-for-hard-disk-drives-for-119m","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/seagate-acquires-intevac-which-makes-equipment-for-hard-disk-drives-for-119m\/","title":{"rendered":"#Seagate acquires Intevac, which makes equipment for hard disk drives, for $119M"},"content":{"rendered":"
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Seagate, the data storage company, has announced its intent<\/a> to acquire Intevac<\/a>, a hard drive equipment producer, in an all-cash deal worth $119 million. <\/p>\n

Seagate said on Thursday that it\u2019ll pay $4 per share in a tender offer for Intevac, which is publicly traded. Seagate will initially purchase a minimum of \u201cat least one share more than 50%\u201d of Intevac\u2019s issued and outstanding shares,\u00a0and then execute a \u201csecond step\u201d merger to acquire the company\u2019s remaining shares.<\/p>\n

Intevac\u2019s board of directors and largest shareholders unanimously app<\/a>roved the transaction. Seagate expects it to close in late March or early April, subject to customary closing conditions.<\/p>\n

Santa Clara-based Intevac, founded in 1991 as a spin-off from tech firm Varian Associates, manufactures thin film deposition systems. It IPO\u2019d in 1995, and has expanded its footprint over the years to territories including China, Malaysia, and Singapore.<\/p>\n

On its website, Intavec says its products support hard drive disk media<\/a> production and the upgrade of existing hard drive systems. One of the technologies that the firm touts as its preferred solution, heat-assisted magnetic recording, or HAMR, improves the \u201cwriteability\u201d and storage density of hard drives by applying heat energy.<\/p>\n

It\u2019s not tough to see how this fits squarely into Seagate\u2019s hard drive disk business. In December, Seagate announced<\/a> its first HAMR-based hard drive after a two-decade hiatus from the tech, and the company plans to ship HAMR-based drives to several customers, including a \u201cleading cloud provider,\u201d this year.<\/p>\n

Several of Seagate\u2019s rivals, including Western Digital and Toshiba, are also working on HAMR-based drives, spurred by the growing worldwide demand for storage. HAMR-based drives general<\/a>ly have a cost advantage over incumbent solid-state technologies, making them especially attractive to public cloud vendors.<\/p>\n

Intavec\u2019s market cap was around $91.17 million<\/a> as of Thursday. In its most recent fiscal quarter (Q3 2024), the firm notched $28.5 million in revenue, up 59% year-over-year, but posted a $2.17 million net loss. <\/p>\n

Intavec late last year said<\/a> it was exploring \u201cstrategic options\u201d and undergoing a restructuring that the company anticipated would \u201cmaterially strengthen its profitability.\u201d One of those strategic options was an exit from the public markets, it seems.<\/p>\n

Intavec is Seagate\u2019s first major acquisition<\/a> since the company bought Kioxia, a supplier of flash memory and solid-state drives, in 2017. Seagate has made 11 acquisitions in its 46-year history, according to financial database Tracxn<\/a>, totaling around $18 billion.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Seagate, the data storage company, has announced its intent to acquire Intevac, a hard drive equipment producer, in an all-cash deal worth $119 million. Seagate said on Thursday that it\u2019ll pay $4 per share in a tender offer for Intevac, which is publicly traded. Seagate will initially purchase a minimum of \u201cat least one share…<\/p>\n","protected":false},"author":1,"featured_media":653429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/techcrunch.com\/wp-content\/uploads\/2024\/05\/GettyImages-1468360413.jpg?resize=1200,857","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[75885,110660,154349,154350,52711,113218,154351,143891,154352],"class_list":["post-653428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-enterprise","tag-acquisition","tag-hamr","tag-hard-drive-disk","tag-hardware","tag-hdd","tag-intevac","tag-merger","tag-seagate"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/653428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=653428"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/653428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/653429"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=653428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=653428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=653428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}