India Broadband Forum

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Storage industry giants Seagate have said that they are acquiring EVault Inc.

EVault Inc. is an online service providing storage services on the internet. The deal is worth around $185 million and it would be conducted in a cash transaction.

This deal is expected to help Seagate gain a major foothold in the online storage market enabling them to service companies and individuals by offering backups of massive amounts of digital data.

EVault basically caters to small- to medium-sized businesses and has more than 250 employees. The company also has a client base of more than 8,500 customers worldwide.

Seagate had also acquired Mirra Inc. last year which specialized in manufacturing personal servers that allow consumers or small businesses to easily upload and share files, and recover them later if needed. In addition, they have also recently taken over the operations of ActionFront Data Recovery Labs, a provider of professional data recovery services.