Home / Seagate pays US$185m for backup services provider

Seagate pays US$185m for backup services provider

The hard drive heavyweight is to purchase online backup specialist EVault to extend its solutions offering beyond its core business by strengthening its services arm.

The acquisition will enhance the offerings Seagate Services can provide to small and medium-sized businesses (SMBs) to include online backup, archival and recovery services.

The deal, which took place late last month, will also increase the hard drive giant’s customer base in some strategic industry sectors such as financial services, healthcare and legal.

“This announcement highlights a strategic next step into services, which is a natural extension of Seagate’s core business and will leverage our brand leadership and channel expertise,” said Bill Watkins, Seagate CEO.