April 3, 2025 – Seagate, a leading manufacturer of hard disk drives (HDDs), has announced the completion of its acquisition of Intevac, a supplier of upstream equipment, on March 31st, local time. The deal, valued at approximately 109million,wasfinalizedatapriceof4 per share as offered by Seagate.
Intevac specializes in the manufacturing, sales, maintenance, and upgrading of thin-film deposition systems for magnetic storage media used in HDDs. The company provides essential equipment support to all three major HDD manufacturers directly (to Seagate and Western Digital) or indirectly (through disk manufacturer Resonac to Toshiba).
For Seagate, gaining control of Intevac is expected to reduce the overall costs associated with the further development and mass production of Heat-Assisted Magnetic Recording (HAMR) technology. This acquisition is strategic as it allows Seagate to accelerate the adoption of HAMR, which promises higher storage densities.
