Seagate Acquires EVault, Inc., Enters Online Storage Market

Seagate Technology today announced the signing of a definitive agreement to acquire privately-held EVault, Inc., a leading provider of online backup services, as part of its effort to extend the company's storage solutions offerings and strengthen the Seagate Services group. The company's strategy for Seagate Services includes offering market-leading services in the areas of data recovery, online backup/recovery and archiving for small-medium businesses (SMB).

"Today's 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 to deliver solutions to the SMB market," said Bill Watkins, Seagate CEO. "Over the past three years, Seagate has been executing a strategy designed to broaden its customer base and increase growth opportunities by expanding beyond its core hard disc drive business into the broader storage solutions category. Our objective for Seagate Services is to become a leading provider of services to manage and protect our customers' digital content throughout its lifecycle."

News source: Seagate

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