Seagate Technology Holdings plc, a leading innovator of mass-capacity data storage, announced today that it has completed the acquisition of Intevac, Inc. (Nasdaq: IVAC) ("Intevac"), a supplier of thin-film processing systems. The previously announced cash tender offer for all of the outstanding shares of common stock of Intevac for $4.00 per share, payable in cash at closing, without interest and subject to reduction for any applicable withholding taxes, by Irvine Acquisition Holdings, Inc. ("Merger Sub"), an indirect wholly owned subsidiary of Seagate, expired one minute after 11:59 p.m., Eastern Time, on March 28, 2025. Computershare, the depository agent for the tender offer, has advised Seagate that 23,968,013 Intevac shares, representing approximately 87.95% of the outstanding shares of Intevac common stock, were validly tendered pursuant to the tender offer and not properly withdrawn prior to the expiration time. All of the conditions to the consummation of the tender offer have been satisfied, and on March 31, 2025, Merger Sub accepted for payment, and will promptly pay for, all shares validly tendered pursuant to the tender offer and not properly withdrawn.

Seagate is advancing in NVMe technology for large-capacity hard drives as the growing storage needs in AI systems and apps continue to rise. Old and current storage setups struggle to handle the huge datasets needed for machine learning, which now reach petabyte and even exabyte sizes. Today's storage options have many drawbacks for AI tasks. SSD-based systems offer the needed speed however it is not cost-effective for storing large AI training data. SAS/SATA hard drives are cheaper however, the interfaces rely on proprietary silicon, host bus adapters (HBAs), and controller architectures that struggle with the high-throughput, low-latency needs of AI's high data flow.

Seagate's "new idea" is to use NVMe technology in large-capacity hard drives. This creates a solution that keeps hard drives cost-effective and dense while boosting performance for AI apps. NVMe hard drives will not need HBAs, protocol bridges, and additional SAS infrastructure, allowing seamless scalability by integrating high-density hard drive storage with high-speed SSD caching in a unified NVMe architecture.

Seagate Technology Holdings plc, a leading innovator of mass-capacity data storage, today released its Seagate Genshin Impact Limited Edition External SSD in collaboration with the popular open-world adventure RPG Genshin Impact. In combining performance with exclusive branding, the drive provides an opportunity for fans and collectors to bring Genshin Impact into their physical gaming environment. The new Seagate Genshin Impact Limited Edition External SSD provides a unique storage experience for regular players and gaming enthusiasts alike. The drive features a meticulously crafted design inspired by the character Cyno and comes equipped with vibrant LED lighting, making it a distinctive addition to any setup.

The drive is compatible with various platforms—including PC, mobile phone, PlayStation and Xbox consoles, as well as Windows and macOS operating systems. Its PCIe Gen 4 compatibility offers ultra-fast transfer speeds, enabling faster pro-level gaming, video editing, and content creation. It is easy to install and features a high-speed USB 3.2 Type C interface to ensure seamless transfers and backup.

Seagate Technology, a leading innovator of mass-capacity data storage, and Intevac, Inc., a supplier of thin-film processing systems, today announced that Seagate has entered into a definitive agreement to acquire Intevac in an all-cash transaction for $4.00 per share (the "Transaction"). In connection with the closing of the Transaction, Intevac will pay a one-time special dividend of $0.052 per share. The payment of the special dividend is expected to occur on or about the closing of the Transaction. Separately, Intevac's Board of Directors has declared a regular quarterly dividend of $0.05 per share, which will be paid on March 13, 2025, to Intevac stockholders of record as of February 28, 2025.

The Transaction and the special dividend deliver aggregate consideration to Intevac stockholders of $4.052 per share, or $4.102 per share including Intevac's regular quarterly dividend. This represents a premium of 45% to Intevac's closing price of $2.83 per share on December 11, 2024, one day prior to Intevac's announcement that it had renewed its focus on pursuing strategic options, a premium of approximately 21% to Intevac's closing price of $3.38 per share on February 12, 2025 and an aggregate value of approximately $119 million including both dividends. As a result of the Transaction, Intevac will no longer hold its earnings call, which was previously scheduled for February 25, 2025.

Seagate Technology Holdings plc, a leading innovator of mass-capacity data storage, today announced the Seagate Ultra-Compact SSD, the lightning-fast SSD that is highly durable and portable. With transfer speeds of up to 1,000 MB/s, you can conveniently store and move large files on-the-go, freeing up space on your PC, phone, tablet or gaming device. The device comes in spacious 1 TB and 2 TB capacities.

Product Highlights:

• Small but Mighty: The Seagate Ultra-Compact SSD is a compact and light, thumb-drive sized SSD that easily attaches to your key ring. Despite its small size, it offers powerful performance and convenience.
• Tough Stuff: Built to withstand the rigors of travel, The Seagate Ultra-Compact SSD features 3 meter drop resistance, IP54 dust and water resistance, and a removable rubber sleeve for extra protection.

Last week, Heise.de published an extensive article that covered numerous purchases of problematic Seagate hard drives. A portion of the German publication's readership banded together, following an initial report of one individual's experience with—supposedly—new 14 TB Seagate Exos HDD units. Heise.de received fifty follow-up stories from its audience—a clear pattern emerged from this large volume of feedback. According to various bits of evidence, twelve retail locations were caught selling used/refurbished Seagate products—disappointed customers were led into believing that were acquiring "brand new" stock. Last week's report documented examples with visible physical wear and tear, and software diagnostics revealed prior operational usage—around 10,000 to 50,000 hours. Heise.de placed an order with the original source, but this transaction was canceled—the Seagate Exos 14 TB and 16 TB models were no longer in stock rotation.

Tom's Hardware kept tabs on the events unfolding in Germany, and contacted Seagate for comment. A freshly released article contains the storage specialist's official response, but the spokesperson did not disclose any information regarding root causes. The statement started with: "Seagate did not sell or distribute these fraudulent drives to resellers...We recommend that resellers only purchase drives from certified Seagate distribution partners to ensure that they purchase and sell only new or factory-recertified Seagate drives...hard drives that have been refurbished and factory-certified by Seagate and resold as part of the Seagate Drive Circularity Program can be identified by the green-bordered white hard drive label and the designation: Factory Recertified."

Seagate Technology Holdings plc (the "Company" or "Seagate"), a leading innovator of mass-capacity data storage, today reported financial results for its fiscal second quarter ended December 27, 2024. "Seagate ended calendar 2024 on a strong note as we grew revenue, gross margin and non-GAAP EPS successively in each quarter of the year.

Our results demonstrate structural improvements in the business and our focus on value capture in an improving demand environment, highlighted by decade-high gross margin performance exiting the December quarter," said Dave Mosley, Seagate's chief executive officer. "We are advancing our technology roadmap to meet our customers' growing need for scalable, cost efficient and sustainable storage solutions in the age of AI. We began ramping HAMR-based Mozaic products to our lead cloud customer in the December quarter and are already sampling in capacities of up to 36 terabytes. Looking ahead, we believe Seagate is in a great position to deliver profitable growth in fiscal 2025," Mosley concluded.

Seagate Technology Holdings plc, an innovator of mass capacity data storage, today announced shipments of Exos M hard drive samples to select customers in industry-leading capacities up to 36 terabytes (TB). Based on Mozaic 3+, the company's breakthrough heat-assisted magnetic recording (HAMR) technology platform, Exos M delivers unprecedented storage scale for large-scale data center deployments.

Key Takeaways

• Adopted by Cloud Service Providers: Seagate is currently ramping Exos M to volume shipments on capacity points up to 32 TB with a leading cloud service provider. Separately, Seagate is also sampling drives on the Exos M platform of up to 36 TB.
• Mozaic 3+ and HAMR Innovation: Based on Seagate's Mozaic 3+ technology platform, the industry's first implementation of heat-assisted magnetic recording (HAMR), Exos M offers data center operators significant scale, total cost of ownership (TCO), and sustainability advantages, including 300% more storage capacity within the same data center footprint, a 25% cost reduction per terabyte and 60% reduction in power consumption per terabyte.
• Unrivalled Areal Density: Exos M, powered by HAMR-based Mozaic 3+ platform, now delivers capacity points up to 36 TB through a highly efficient 10-platter product design. Seagate is the only data storage company that can achieve areal densities of 3.6 TB per hard drive platter today, with a pathway to increasing per-platter capacity to 10 TB.

According to a recent, global Recon Analytics survey commissioned by Seagate Technology, business leaders from across 15 industry sectors and 10 countries expect that adoption of artificial intelligence (AI) applications will generate unprecedented volumes of data, driving a boom in demand for data storage, in particular cloud-based storage. With hard drives delivering scalability relative to terabyte-per-dollar cost efficiencies, cloud service providers rely on hard drives to store mass quantities of data.

Recently, analyst firm IDC estimated that 89% of data stored by leading cloud service providers is stored on hard drives. Now, according to this Recon Analytics study, nearly two-thirds of respondents (61%) from companies that use cloud as their leading storage medium expect their cloud-based storage to grow by more than 100% over the next 3 years. "The survey results generally point to a coming surge in demand for data storage, with hard drives emerging as the clear winner," remarked Roger Entner, founder and lead analyst of Recon Analytics. "When you consider that the business leaders we surveyed intend to store more and more of this AI-driven data in the cloud, it appears that cloud services are well-positioned to ride a second growth wave."

LaCie, the premium brand from Seagate Technology Holdings plc (NASDAQ: STX), today introduced the industry's fastest scratch disk for creative professionals—the LaCie Rugged SSD Pro5. Leveraging next-gen Thunderbolt 5 technology, the Rugged SSD Pro5 is ideal for filmmakers, photographers, and audio specialists who want the highest performance and reliability from their storage solutions.

The new Rugged SSD Pro5 delivers ultra-fast read/write speeds of up to 6,700/5,300 MB/s for streamlining workflows and maximizing productivity for creative projects. Available in capacities of up to 4 TB, it enables real-time editing of 8K and 6K RAW footage and ensures smooth performance with even the most intensive tasks.

Seagate is getting ready to release its biggest hard drive, featuring a 32 TB capacity through new Heat-Assisted Magnetic Recording (HAMR) technology; this milestone comes after nearly a decade and a half of anticipation. Seagate first tested HAMR technology in 2007. The company has repeatedly promised that HAMR-based drives would be available within a few years; however, those predictions have been repeatedly postponed until now.

New Exos drives based on the Mozaic 3+ platform have been available in limited quantities for select customers. Now that they are in mass production, Seagate has quietly revealed the product page for its Exos M HDDs. The lineup includes a 32 TB model that uses Shingled Magnetic Recording (SMR) technology and a 30 TB model that uses Conventional Magnetic Recording (CMR). Seagate says its Exos M hard drive has a 3 TB per platter density.

With the new infrequent access service, users can optimize their IT budgets by moving less frequently used data to lower-cost storage tiers, but when needed-users can easily access it with no retrieval fees. 61% of enterprises are prioritizing data archive and lifecycle management, as a key consideration for their data strategies. Seagate's Lyve Cloud Object Storage, a leading S3-compatible solution, has introduced new flexible, cost-efficient archive tiering, enabling a predictable and flexible way to store infrequently accessed data with no retrieval fees. The infrequent access tier is offered as a dedicated tenant, helping enterprises to manage, archive and delete data according to their data lifecycle needs.

"Nearly 65% of our customers are actively seeking an archive tier that is economical and provides both flexibility and customer choice to their S3 offering," said Melyssa Banda, senior vice president, Edge Storage and Services Seagate "Now our Cloud Object Storage users can easily scale storage resources to accommodate their growing and evolving data requirements."

Seagate Technology Holdings plc (NASDAQ: STX) (the "Company" or "Seagate"), a leading innovator of mass-capacity data storage, today reported financial results for its fiscal first quarter ended September 27, 2024. "Seagate is off to an outstanding start to the fiscal year, highlighted by gross margin expanding to the highest level in more than a decade," said Dave Mosley, Seagate's chief executive officer.

"We executed on our plans to aggressively ramp our 28-terabyte nearline drives and broaden the number of cloud customers entering qualification on HAMR-based Mozaic products. We are excited by the strong product momentum which positions us well to address customer demand while delivering profitable growth. Our confidence in Seagate's future opportunities is reflected in the decision to raise the quarterly dividend as announced today," Mosley concluded.

To deliver additional storage capacity options to PS5 and PS4 console users, Seagate Technology Holdings plc today announced its officially licensed PlayStation Game Drive External SSD. The new external SSD will further expand Seagate's popular line of storage for gamers. The new Game Drive External SSD is officially licensed by PlayStation for PS5 and PS4 console gamers needing additional fast and large capacity storage and comes with 1 TB and 2 TB capacity options.

For PS4 console players looking to build a massive library of readily accessible games, the drive eliminates the need to redownload files and spend time freeing up space. For PS5 console players, it's designed for gamers who are looking for additional storage for recording gameplay sessions or want to keep their collection of PS4 titles. To ensure seamless game transfers, the drive features a high-speed USB 3.2 Type-C interface. It also comes with USB-C to USB-A and USB-C to USB-C cables for easy plug-and-play use.

Seagate Technology Holdings plc, a leading innovator of mass-capacity data storage, today reported financial results for its fiscal fourth quarter and fiscal year ended June 28, 2024.

"Seagate delivered robust financial performance for the June quarter amid an improving cloud demand environment, capping off a fiscal year of strong execution against our financial goals. Q4 revenue grew 18% year-over-year, non-GAAP gross margin expanded to nearly 31%, and non-GAAP EPS exceeded the high end of our guidance range," said Dave Mosley, Seagate's chief executive officer. "In fiscal 2025, we are remaining focused on driving profitability and maintaining supply discipline while continuing to execute our mass capacity product roadmap, anchored by our HAMR technology. Our data storage solutions offer our cloud and enterprise customers with cost, power and space advantages that support their investments in critical AI and other data-driven initiatives," Mosley concluded.

Seagate Technology Holdings plc, a leading innovator of mass-capacity data storage, announced its sustainability collaboration with e-commerce site eBay. The agreement establishes Seagate's official storefront on eBay as a direct channel for consumers to access factory-recertified hard drives as part of the Seagate Circularity Program.

As a founding member of the Circular Drive Initiative—a partnership of global leaders in digital storage, data centers, sustainability, and blockchain collaborating to reduce e-waste—Seagate is committed to enabling the secure reuse of storage devices and reducing hard drive shredding. Hard drive shredding entails breaking down a hard drive into tiny pieces so that data cannot be recovered. As rare earth materials contained in those parts cannot be reused, hard drive shredding harms the environment and is not a sustainable practice.

Seagate Technology Holdings plc (NASDAQ: STX), the leading innovator of mass-capacity storage solutions, today reported financial results for its fiscal third quarter ended March 29, 2024. "Seagate's March quarter revenue grew 6% and non-GAAP EPS more than doubled over the December quarter as we benefit from improving cloud demand, our strong operating discipline and price execution. This combination sets the foundation for a return to target margin performance as the markets recover," said Dave Mosley, Seagate's chief executive officer.

"This constructive demand backdrop is well-timed as we prepare to ramp our Mozaic products, anchored by industry-leading HAMR technology. HAMR-based products offer compelling economic value for our customers and position Seagate to drive further financial performance gains, as well as capitalize on favorable long-term demand for mass capacity storage."

ASUSTOR Inc. has updated the hard drive compatibility list by adding Seagate's IronWolf Pro 24 TB high-capacity NAS hard drive. The listed model is ST24000NT002. IronWolf Pro is designed for businesses and those that want the very most in data capacity. Using Seagate's 24 TB hard drives in conjunction with the largest ASUSTOR NAS devices means that some ASUSTOR NAS devices can support up to just under 400 TB.

24 TB drives also help ASUSTOR's MyArchive feature. The use of 24 TB hard drives helps make the backup process with MyArchive easier by using fewer drives. This helps facilitate safe 3-2-1 backups as well as providing as much archival storage as needed. Need even more space? Use the Xpanstor 4, one of the only expansion units featuring a 10 Gbps USB interface. It also supports MyArchive cold backup technology even on NAS devices that don't support hard drives. In addition to the additional 96 TB storage space provided by the four hard drive bays, the USB 3.2 Gen 2 port greatly increases the performance.

MAINGEAR, a leading provider of high-performance custom PC systems, and Phison, a global leader in NAND controllers and storage solutions, today unveiled groundbreaking MAINGEAR PRO AI workstations with Phison's aiDAPTIV+ technology. Specifically engineered to democratize Large Language Model (LLM) development and training for small and medium-sized businesses (SMBs), these ultra-powerful workstations incorporate aiDAPTIV+ technology to deliver supercomputer LLM training capabilities at a fraction of the cost of traditional AI training servers.

As the demand for large-scale generative AI models continues to surge and their complexity increases, the potential for LLMs also expands. However, this rapid advancement in LLM AI technology has led to a notable boost in hardware requirements, making model training cost-prohibitive and inaccessible for many small to medium businesses.

Seagate Technology plc, the leading innovator of mass-capacity storage solutions, today announced the launch of its new e-commerce website in the United States. Seagate's industry-leading storage products can now be purchased directly from www.seagate.com with access to exclusive promotions, support, live chat customer support, and peace of mind with genuine Seagate products.

"We are excited to launch our new e-commerce website in the U.S., which will provide consumers with a seamless and personalized shopping experience," said Lance Ohara, vice president of marketing at Seagate. "The website will strengthen our relationship with our end users and enable us to deliver more value to them. At Seagate, we continue to innovate and bring new products to market, and our new e-commerce website will be where end users can find it first."

Today, Seagate Technology Holdings plc, a world leader in mass-data storage infrastructure solutions, launched the new Seagate IronWolf Pro 24 TB hard drive addresses the evolving data demands of SMB and enterprise network attached storage (NAS) environments. With capacities ranging from 2 TB to 24 TB, the Seagate IronWolf Pro portfolio is built to scale the needs of any growing business. With sustained transfer rates of 285 MB/s, a user workload rating of up to 550 TB/year, and 2.5M hours mean time between failures (MTBF), the new Seagate IronWolf Pro drives are engineered to deliver 24x7 uninterrupted performance, reliability, and dependability in multi-bay and multi-user collaborative environments.

The drives are optimized for NAS systems with Seagate's AgileArray technology. Using dual-plane balancing and time-limited error recovery (TLER), AgileArray helps deliver best-in-class performance in multi-bay systems. Additionally, the drives offer built-in rotational vibration (RV) sensors paired with dual plane balancing that addresses vibrations to deliver consistent high performance and reliability.

Seagate Technology Holdings plc (NASDAQ: STX) (the "Company" or "Seagate") today reported financial results for its fiscal second quarter ended December 29, 2023. "Seagate delivered strong financial results in the December quarter, marked by 7% sequential revenue growth and non-GAAP EPS returning to profitability and exceeding the high end of our guidance range," said Dave Mosley, Seagate's chief executive officer. "Results were led by improving cloud nearline demand as early signs of market recovery emerge."

"Seagate has consistently balanced financial discipline with execution on our areal density-leading product roadmap. Last week's launch of our Mozaic platform delivers a combination of technology advances, including HAMR, that collectively address data center operators' most important challenges: cost, power and space. Volume ramp for our first Mozaic product is underway, positioning Seagate to capture attractive Mass Capacity storage opportunities," Mosley concluded.

Seagate Technology, a world leader in sustainable mass-data storage solutions, today announced a milestone that marks a new era in the storage industry. The company launched the Mozaic 3+ hard drive platform—which incorporates Seagate's trailblazing implementation of Heat-Assisted Magnetic Recording (HAMR) technology. The launch heralds unparalleled areal densities of 3 TB+ per platter—and a roadmap that will achieve 4 TB+ and 5 TB+ per platter in the coming years.

The Mozaic 3+ platform powers Seagate's flagship Exos product family, with newly announced, industry-leading capacity points of 30 TB and beyond. Exos 30 TB+ products are shipping in volume this quarter to hyperscale cloud customers. Seagate's areal density innovation—which increases the number of bits that can be stored on a platter—addresses common industry pain points. Mozaic 3+ enables customers to store more data in the same floor space than ever before. Upgrading from a 16 TB conventional perpendicular magnetic recording (PMR) drive (the average capacity in large-scale data centers) to an Exos 30 TB Mozaic 3+ technology drive effectively doubles capacity in the same footprint.

Seagate Technology, a world leader in mass-data storage infrastructure solutions, launched the new Seagate SkyHawk AI 24 TB hard disk drive (HDD) for the video and imaging applications (VIA) market. Following the recent launch of the company's capacity-leading Seagate Exos X24 24 TB conventional magnetic recording (CMR)-based hard drive, the new SkyHawk AI 24 TB addresses the surging mass data needs of the edge security industry.

As a surge of AI-powered applications are implemented by organizations, performance and total cost of ownership (TCO) are increasingly contingent on the organization's ability to efficiently store and access massive sets of data. Seagate's SkyHawk AI 24 TB is an advanced video-optimized drive specifically designed for network video recorders (NVRs) enabled with AI for edge security applications and meets the challenge of today's advanced systems to analyze and record video footage while simultaneously supporting GPU analytics.

Today, Seagate Technology Holdings plc, a world leader in mass-data storage infrastructure solutions, announced the Seagate Nytro 4350 NVMe solid state drive (SSD), the company's latest addition to its Seagate Nytro drive portfolio. Engineered with Phison, the new drive delivers consistent performance, low latency, low power consumption, and high quality of service (QoS) for data centers.

Designed to improve QoS, the PCIe Gen 4 drive achieves over ten times the bandwidth while doubling the throughput of SATA SSDs. The Seagate Nytro 4350 SSD removes data bottlenecks with up to 58K IOPS random write speeds and up to 800K IOPS random read speeds to provide consistent response times and offers more computing power with less energy consumption with the drive's 3.3 V power supply. The Seagate Nytro 4350 brings up to 1.92 TB capacity in an ultra-small M.2 2280 form factor and is designed to take on enterprise workloads, delivering 1 DWPD at 2M hours MTBF for enhanced endurance.