Thursday, December 21, 2006

Seagate Buys EVault For $185M

Scotts Valley-based disk storage manufacturer Seagate Technology said this morning that it is acquiring Emeryville-based EVault, a provider of online backup services. The deal is worth $185M in cash. Seagate said the acquisition is part of its efforts to extend the company's storage solutions offerings. Evault will become part of Seagate's Services business. EVault provides online network backup, recovery, and data protection, and employs over 250.