Seagate has announced a $119 million all-cash acquisition of Intevac, a producer of critical hard drive equipment. Seagate plans to offer $4 per share in a tender offer and subsequently complete a merger for remaining shares. This acquisition has been unanimously approved by Intevac's board and shareholders and is expected to close by early April. Intevac specializes in thin film deposition systems, vital for hard drive production and upgrades, including the heat-assisted magnetic recording (HAMR) technology, which aligns with Seagate's recent advancements in hard drive technology.
Seagate's acquisition of Intevac for $119 million, set to close by early April, strengthens its position in the hard drive market, particularly with HAMR technology.
The unanimous approval from Intevac's board and shareholders indicates strong confidence in Seagate's strategy and the anticipated benefits of the merger.
Collection
[
|
...
]