ITV

Tag: Seagate Technology

  • Seagate to acquire Intevac in £119m deal

    Seagate to acquire Intevac in £119m deal

    MUMBAI: Seagate Technology Holdings plc (Nasdaq: STX), a mass-data storage firm, has announced plans to acquire thin-film processing systems supplier Intevac Inc (Nasdaq: IVAC) in an all-cash transaction valued at £119m.

    Under the terms of the agreement, Seagate will pay $4.00 per share, whilst Intevac will distribute a one-time special dividend of $0.052 per share upon closing. The company’s board of directors has also declared a regular quarterly dividend of $0.05 per share, payable on 13 March 2025 to stockholders of record as of 28 February 2025.

    The total consideration of $4.102 per share, including both dividends, represents a 45 per cent premium to Intevac’s closing price of $2.83 on 11 December 2024, and a 21 per cent premium to its closing price of $3.38 on 12 February 2025.

    The transaction will proceed via an all-cash tender offer for all outstanding Intevac shares, subject to a minimum tender condition of 50 per cent plus one share. Two of Intevac’s largest stockholders, Palogic Value Fund LP and Bleichroeder LP, who collectively hold approximately 22 per cent of outstanding shares, have agreed to support the deal.

    Intevac, founded in 1991, is known for its thin-film process technology and manufacturing platforms, particularly serving the hard disk drive industry with its 200 Lean platform. The company has been instrumental in enabling heat-assisted magnetic recording media production.

    The acquisition, expected to close in late March or early April 2025, has received unanimous approval from Intevac’s board of directors. Seagate anticipates the deal will positively impact its non-GAAP earnings per share over the long term.

    Houlihan Lokey is serving as financial adviser to Intevac, with Wilson Sonsini Goodrich & Rosati as legal adviser. Wachtell, Lipton, Rosen & Katz is acting as legal adviser to Seagate.

  • Seagate to demo its revolutionary heat assisted magnetic recording storage technology at ceatec 2013

    Seagate to demo its revolutionary heat assisted magnetic recording storage technology at ceatec 2013

    MUMBAI: Seagate Technology plc (NASDAQ:STX), a world leader in storage solutions, today announced that it will be demonstrating its next generation  heat assisted magnetic recording (HAMR) technology at CEATEC 2013. Pushing the boundaries of magnetic recording, Seagate’s revolutionary HAMR technology is poised to power an astounding 20 Terabyte drive by as early as 2020. 

    “The world is generating an astronomical amount of data annually and that data needs to be stored. We are approaching the limits of today’s recording technology and with HAMR technology, Seagate is on track to continue to increase areal density delivering hard drives with the lowest cost per gigabyte and reaching capacities of 20TB by 2020,” said Mark Re, Seagate’s chief technology officer.

    Currently shipping leading-edge shingled magnetic recording technology (SMR), Seagate will continue to push the limits of storage capacities with HAMR in an effort to fulfill the insatiable global demand for storage fueled by cloud and mobile usage. Critical for continued improvement in areal density, HAMR increases storage capacity by heating the medium with a laser-generated beam at the precise spot where data bits are being recorded. When heated, the medium becomes easier to write and the rapid subsequent cooling stabilizes the written data. The result of this heat-assisted recording is a dramatic increase in the recorded density.

    HAMR, combined with self-ordered magnetic arrays of iron-platinum particles, is expected to break the limit of magnetic recording by more than a factor of 100 to ultimately deliver storage densities as great as 50 terabits per square inch. To put this in perspective, a digital library of all books written in the world would be approximately 400 TB – meaning that in the very near future conceivably all such books could be stored on as few as 20 HAMR drives.

    Seagate’s next-generation HAMR technology will be incorporated into a 2.5-inch enterprise drive, spinning at 10K RPM. Designed with enterprise in mind, HAMR fueled drives will be ideal in a blade server environment.

    Seagate HAMR demonstrations will take place, during CEATEC 2013 in Tokyo, between October 1-5, 2013 during normal operating trade show hours.
     

  • Seagate redefines the tablet market

    Seagate redefines the tablet market

    MUMBAI: Seagate Technology plc (NASDAQ:STX), a world leader in storage solutions, today took the wraps off the new Seagate® Ultra Mobile HDD designed exclusively for mobile devices. Integrated with the Seagate Mobile Enablement Kit which includes Seagate’s Dynamic Data™ Driver software technology, the new storage solution delivers up to 7x the storage capacity of a traditional 64GB tablet with the same power, performance and reliability of a flash device.

     

    “Coupling an ultra-thin, high-capacity HDD with software designed to optimize integration into tablets at a value-add price has allowed us to deliver a truly ground-breaking solution, enabling our partners to reimagine the mobile device,” said Steve Luczo, president, CEO and chairman of Seagate. “By empowering our OEMs with this revolutionary new technology, we have invited the industry to re-think the mobile market making this offering a true game-changer in the world of storage.”

     

    “When comparing side by side a tablet and a portable PC, today’s tablets are trading off storage capacity in order to realize a thin and light form factor device and long battery life,” noted John Rydning, IDC’s research vice president for hard disk drives and semiconductors. “Seagate’s new Mobile Enablement Kit will bring PC-like storage capacity to future thin and light tablet designs, and position Seagate as a potential storage solutions provider to the fast-growing tablet market.”

     

    Seagate has addressed several key areas beyond a standard laptop HDD to optimize mobile applications with the Ultra Mobile HDD and Mobile Enablement Kit. These areas include shock management, heat and vibration and gyroscopic motion— all of which have been heavily tested to ensure the drive delivers the best experience in a tablet solution.

     

    Seagate Dynamic Data Driver Software

    Keeping pace with today’s mobile storage demands presents other challenges as well including power consumption requirements, device drops by consumers and user demands. Merging the new Ultra Mobile HDD with the Dynamic Data Driver software alleviates these obstacles enabling OEMs to comfortably fit high-capacity storage into mobile devices.

     

    Seagate’s use of Dynamic Data Driver software addresses these challenges through a combination of system design considerations. Reduced power consumption and improved performance are achieved through an intelligent caching design that is implemented at the system level. As a result a mobile device using 8GB of flash and the Ultra Mobile HDD and Dynamic Data Driver software have the power consumption equal to that of a 64GB tablet and the performance equal to that of a 16GB tablet— while costing less than either.

     

    The software provides drive protection through the use of enhanced motion sensor and thermal monitoring algorithms to control drive access and avoid usage conditions that might harm it. The drive is so well insulated that in many cases a dropped device’s screen would break before its hard disk drive.

     

    To further reinforce reliability for mobile devices, the Ultra Mobile HDD integrates Seagate’s own Zero Gravity™ Sensor providing better shock management. Incorporated power modes support the drive in sleep, standby and idle enabling it to consume as low as 0.14W and support the long battery life demanded by tablets. Its slim, rugged design allows it to be utilized in new emerging applications like convertible and detachable storage.

     

    Leveraging the company’s experience with ultra-portable applications like iPods, MP3 players, and handheld video recorders, the newly-engineered 2.5-inch drive  is just 5mm thin while weighing in at a mere 3.3oz— about the same as a light bulb. Featuring up to 500GB of capacity, it delivers the highest areal density available in a small, ultra-thin form factor while supporting over 100,000 photos, 125,000 songs or 62 hours of high-definition video and movies.

     

    The Seagate Mobile Enablement Kit includes the Ultra Mobile HDD, Dynamic Data Driver software, and an optional customized reference design which allows HDD-powered tablets to transparently deliver high-capacity storage space to an end user in a mobile solution. The kit is currently designed to support the Android operating system.
    The Seagate Ultra Mobile HDD will be available separately and as part of the Seagate Mobile Enablement Kit. Dynamic Data Driver software not sold separately.  For more information on both products please visit http://seagate.com/www/mobilekit.