- Seagate is ready to purchase Intevac, a specialist in HAMR drive manufacturing
- HAMR is seen because the expertise which goes to drive HDDs to 100TB+
- The transfer is a critical blow to Western Digital and Toshiba’s personal HAMR plans
Seagate is charging forward in its quest to supply super-sized HDDs. In the direction of the tip of January 2025, the world’s largest laborious drive vendor launched a 36TB mannequin – arriving only a month after it debuted a 32TB one – and it revealed on the time {that a} 60TB drive is on its method.
Now, the agency has introduced plans to amass Intevac, an organization identified for making sputtering programs that apply ultra-thin layers of fabric, akin to an iron-platinum alloy (FePt), to HDD platters. This superior deposition course of permits for the creation of magnetic layers with larger uniformity, improved signal-to-noise ratios, and fewer defects, doubtlessly leading to denser information storage. Over 65% of the world’s laborious disk output is produced utilizing Intevac’s programs, which works out to greater than 50 million disks per thirty days. The expertise is taken into account important for Perpendicular Magnetic Recording (PMR) and Warmth-Assisted Magnetic Recording (HAMR).
HAMR, which lowers magnetic resistance by heating the drive, permits information to be written in smaller, extra secure bits and can prone to be a key consider HDDs reaching 100TB capacities. By shopping for Intevac, Seagate has doubtlessly scored an enormous win over its rivals. Seagate is Intevac’s major buyer, however Western Digital is one too, and it, together with Toshiba, has HAMR drives within the works.
Unanimously authorised
The definitive settlement will see Seagate purchase Intevac in an all-cash transaction for $4 per share. Intevac can even pay a one-time particular dividend of $0.052 per share (bringing the combination consideration to Intevac stockholders to $4.052 per share). Individually, Intevac’s Board of Administrators has declared a daily quarterly dividend of $0.05 per share, which will likely be paid on March 13, 2025, to Intevac stockholders.
Because of the transfer, Intevac will now not maintain its earnings name, which had been set for February 25.
Intevac’s Board of Administrators has unanimously (and unsurprisingly) authorised the transaction and beneficial that every one stockholders tender their shares within the provide.
The acquisition is anticipated to shut in late March or early April 2025, though, as Blocks and Recordsdata factors out, “Western Digital or Resonac [which counts Toshiba as a customer] or each might object to the deal on diminished competitors grounds, which might delay its completion and even forestall the transaction from happening.”
That is unlikely in fact – Seagate would not have moved ahead with the acquisition if its attorneys have been anticipating issues of that magnitude.
Seagate will be capable of enhance HAMR drive manufacturing following the acquisition, however the transfer might hamper Western Digital and Toshiba’s efforts in that division, as it will imply shopping for the sputtering instruments they want from Seagate, a serious rival.