Wasabi Technologies recently announced the acquisition of the Lyve Cloud business. They acquired this business unit from Seagate Technology. This strategic move expands its Enterprise-Grade Cloud Storage offerings. As part of the deal, Seagate received equity in Wasabi. Seagate is now a shareholder of the company. Wasabi continues to grow as a leading pure-play storage vendor.
The company will support Lyve Cloud customers through its global data centers. It comes with new security technologies such as Covert Copy that help safeguard information. Additionally, Wasabi enables AI capabilities and technical assistance. This deal allows companies to handle rising data storage requirements efficiently. Companies often desire reliable pricing to simplify vendor management.
Strengthening Global Data Infrastructure
Enterprise-Grade Cloud Storage is essential for modern AI initiatives. Many organizations re-evaluate cloud economics as data volumes reach petabytes. Wasabi offers a pricing model without unpredictable fees. This approach makes it a powerful option compared to hyperscalers. Consequently, the transition ensures that Lyve Cloud users receive exceptional support.
“This acquisition strengthens our position as the world’s leading pure-play cloud storage vendor,” said David Friend, co-founder and CEO of Wasabi Technologies.
“This transaction is aligned with Seagate’s strategic focus on its core mass-capacity storage business to meet the surging demand for data storage,” said Gianluca Romano, chief financial officer of Seagate Technology.
The merger simplifies the landscape for partners using S3-compatible vendors. Wasabi shares strong integration partnerships with Veeam and Rubrik. These connections streamline backup and recovery workloads. The company remains on a mission to make storage predictable. By expanding its footprint, Wasabi helps companies put data to work.
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News Source: Businesswire.com
