Seagate Acquires EVault for $185 Million
The largest manufacturer of hard drives on the planet,Seagate, has agreed toacquire online storage provider EVaultfor some $185 million in cash — subject to various standard closing conditions, including applicable regulatory approvals, of course. The deal is expected to close in the third quarter of Seagate’s fiscal year 2007. EVaultis a privately-held company in Emeryville, California, which offers automatic backup and data recovery services for small and medium sized businesses. It was founded in 1997 and has about 8,500 customers worldwide and a staff of about 250 people....