Wasabi Technologies announced it has acquired the Lyve Cloud business from Seagate Technology, strengthening its position as a leading independent cloud storage provider.
As part of the transaction, Seagate received an equity stake in Wasabi and becomes a shareholder in the company. Financial terms of the deal were not disclosed.
The acquisition brings Lyve Cloud’s enterprise customer base and capabilities into Wasabi’s platform, enhancing its ability to deliver scalable, secure, and cost-effective storage solutions. The combined offering is designed to address growing demand driven by artificial intelligence, analytics, video workloads, and increasing data retention requirements.
Lyve Cloud has been recognized for its enterprise-grade security and compliance features, which will complement Wasabi’s global data center network, predictable pricing model, and advanced capabilities such as AI-ready infrastructure and security features like Covert Copy. The integration is expected to provide customers with a more unified and efficient storage solution.
The transaction also strengthens Wasabi’s ecosystem of integration partners, including Veeam, Rubrik, and Commvault, simplifying backup and recovery workflows while reducing vendor complexity for enterprise customers.
For Seagate, the divestiture aligns with its strategic focus on its core mass-capacity storage business, while ensuring continuity for Lyve Cloud customers through Wasabi’s specialized cloud storage platform.
The acquisition positions Wasabi to further expand its footprint in enterprise cloud storage by offering a differentiated alternative to hyperscale providers, emphasizing predictable pricing, strong security, and global performance.
KEY QUOTES:
“This acquisition strengthens our position as the world’s leading pure play cloud storage vendor. Seagate has built a loyal enterprise customer base for Lyve Cloud storage, and we welcome those customers to Wasabi. We are focused on supporting their growth with our global network of data centers, innovative security features such as Covert Copy, AI ready capabilities, partner integration tools, and technical support.”
David Friend, Co-Founder And Chief Executive Officer, 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, while ensuring Lyve Cloud customers continue receiving exceptional support through Wasabi, a dedicated, independent cloud storage provider.”
Gianluca Romano, Chief Financial Officer, Seagate Technology
