Seagate Technology Closes Intevac Buyout

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Seagate Technology Closes Intevac Buyout

, MT Newswires - 9:37 AM ET 3/31/2025 default

09:37 AM EDT, 03/31/2025 (MT Newswires) -- Seagate Technology ( STX ) said Monday it has completed its purchase of Intevac ( IVAC ) , paying $4 per share in cash for the thin-film processing systems supplier.

Closing of the deal follows Intevac ( IVAC ) investors tendering nearly 24 million of their shares, representing roughly 88% of the company's outstanding shares, by the March 28 deadline, Seagate ( STX ) said.

Intevac ( IVAC ) became a wholly owned subsidiary of Seagate ( STX ) and its shares ceased trading on the Nasdaq Global Select Market prior to Monday's opening bell and were delisted, Seagate ( STX ) said.

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