Seagate Buys EVault, Moves Into Storage Services
January 8, 2007 Timothy Prickett Morgan
Disk and tape storage maker Seagate Technology wants to expand into online backup services, and that is why the company has acquired EVault, one of the pioneers in the fast-growing market for online backups, for $185 million in cash. Seagate is one of the dominant suppliers of disk drives into the enterprise, and is co-developer with IBM and Hewlett-Packard of the LTO tape format that is taking over the tape archiving market in a steady, methodical manner. But for many customers, making off-site backups is becoming as important as having onsite archives, and that is why online data vaulting |