Seagate wakes up next to EVault after holiday party bender

Christmas came early for EVault stockholders today when hard disk drive
manufacturer Seaga
te agreed to acquire the online storage provider for $185 million in
cash
. For Seagate, which has spent the last few years expanding
beyond its core hard drive business into storage solutions, the
acquisition is a no-brainer. The move catapults Seagate still further
into the online backup/recovery market, giving it a wholly owned
subsidiary that will cater to small and midsize businesses. “Seagate has
been offering recovery services for their customers,” Clipper Group
analyst Dianne McAdam told eWeek
. “They have services that will
recover data from disk or tape media that has been damaged and cannot be
recovered with normal processes. So, the acquisition expands on their
recovery services. Now they can offer, in effect, the service to perform
the backups for customers. They provide the expertise and the
second-site location.”

 
 

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