Seagate acquires Intevac, which makes equipment for hard disk drives, for $119M

The data storage agency contains Sigate Its intention Achievement IntevacA hard drive tool-producing, $ 119 million in the most-nugd agreement of dollars.

Sigate said on Thursday that it would pay $ 4 per share for the tender offer for the Intivac, which is publicly transmitted. The Sigate is initially issued by the intend and the minimum of the outstanding shares will buy “at least one 50%more than 50%” and then an “second step” attachment will be implemented to achieve the remaining shares of the company.

The Board of Directors and the largest shareholders of the Invake have unanimously approved the transaction. Sigate hopes that it will be closed in late March or in early April, with the condition of the traditional completion.

The Tech Farm produces the Santa Clara-based intevocate thin film deposition systems established in 1991 as a spin-off of the Verian Associates. It has extended its footprints to the IPO’s IPO in the 5th and its footsteps in the regions including China, Malaysia and Singapore for years.

Intweek says on its website that its products support hard drive disk media production and upgrade of existing hard drive systems. The firm is a technology to identify as its preferred solution, the heat-aid magnetic recording or HAMR, improving the “rituality” and storage density of the hard drive by applying thermal power.

It is not hard to see how the hard drive of the Sigaters fits squarely with the business. December, Sigate Declaration After two decades from technology, its first Hamr-based hard drive and the company planned to send Hamr-based drives to several customers, including “top cloud suppliers” this year.

Several rivals, including Western Digital and Toshiba, are also working on Hamr-based drives, which are encouraged to demand growing storage globally. HAMR-based drives usually have an expenditure benefit than the arrival solid-state technology, so that they make public cloud vendors particularly attractive.

Intamek Market Cap was about $ 91.17 million As Thursday. At its most recent fiscal year (Q3 2024), the firm earned $ 28.5 million more than a year-old year, but posted a $ 2.17 million knit loss.

Intwek at the end of the last year D It was exploring the “strategic options” and was going through a restructuring that the company expected “will strengthen its profitability materially.” One of these strategic options was to exit the public markets, it seems.

Intweek is Sigate First large acquisition Since the company bought the flash memory and solid-state drive suppliers in 2017. Sigate has acquired 11 in its 46 year history, Traxon according to the financial databaseAbout 18 billion dollars in total.