Wasabi Acquires Seagate's Lyve Cloud Business to Expand Cloud Storage Offerings
Wasabi is purchasing Seagate's Lyve Cloud operations, enhancing its cloud storage capacity and customer base. This acquisition allows Seagate to focus on core disk drive manufacturing while providing Lyve Cloud customers with continued support from Wasabi.
Theia Market Signal Identification - AI Assisted
Wasabi is acquiring Seagate's Lyve Cloud operations, including its S3-compatible cloud storage and Lyve Mobile data transfer services. This move enables Seagate to concentrate on its primary disk drive manufacturing sector.
The acquisition will grant Seagate equity in Wasabi, although specific financial details were not disclosed. The Lyve Cloud portfolio includes multiple datacenters across the USA, Europe, Singapore, and Japan.
Wasabi aims to enhance its ability to manage enterprise backup and recovery workloads, offering predictable pricing without egress fees, thus positioning itself favorably against hyperscalers. The transition may impact Seagate's operational focus but ensures continued support for Lyve Cloud users through Wasabi's infrastructure.
Comments