Seagate Technology in its all-cash acquisition of Intevac

On February 13, 2025, Seagate Technology Holdings plc, (NASDAQ: STX), a leading innovator of mass-capacity data storage, and Intevac, Inc. (NASDAQ: IVAC), a supplier of thin-film processing systems, announced that Seagate has entered into a definitive agreement to acquire Intevac in an all-cash transaction for $4.00 per share. The proposed transaction has an aggregate equity value of approximately $119 million, including dividends to be paid to Intevac stockholders.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Seagate.