Intevac

Seagate just announced that they are buying Intevac for $119 million in cash.

https://www.businesswire.com/news/home/20250213031336/en/Seagate-Announces-Agreement-to-Acquire-Intevac

How does Seagate have the cash to do this when they are struggling to even pay their suppliers? I guess it makes some sense to own the supplier that make the sputtering systems for making HAMR media.

Are we now going to sell this same HAMR sputtering equipment to WDC and Resonac now that we own Intevac? I get that Seagate wants to be vertically integrate but not sure how this all is going to work.

I would kiss all your end of the year bonuses goodbye and any possibility of hiring new people to help with the work load.

Lately we have not even been able to replace people who leave and the work just keeps piling up and up with all the skilled people getting fed up and leaving since no bonuses or promotions except for the operators, techs and Engineer 1, 2 and Senior Engineers.

So many people around have quiet quit. NRM and SHK seem empty most days since everyone is "working remote".

How is upper management going to fix this problem especially since we are now completely cash poor after this acquisition. Work harder with the even more limited resources to get more work done.

The beatings will continue until moral improves. This is such a great "Healing Journey".

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So what happens now that Intevac is part of Seagate. Still selling to WD the now Seagate own sputter equipment or upgrading it to support the competitor?

@1pn+1jm0zkyhb think about how long we spoke about HAMR and sampled drives

If you actually believe they will be coming out of the gate with their HAMR anytime soon, I have a bridge to sell you.

@1gz+1 according to WD’s website they already have HAMR.

1gz
I would imagine there would be antitrust action by WD and Toshiba if buying Intevac was critical to manufacturing HAMR. On top of that, if our customers thought HAMR was worth buying, then they too would insist on having a second source.

Is it a bold move to stop competitors doing HAMR ?

no sweating 😓

@10e+1jm0zkyhb Yes, the hard drive industry is all about legacy patents. I’m guessing WD isn’t sweating it.

It's a patent for shingling recording. Shingled drives are sold by all three everyday. It has nothing to do with buying another company.

acquiring a company and operating it we know is no guarantee

@wt+1 Do you have a point with that patent reference?

opposition to this deal could arise, so let's watch how it plays out

Must be using the $1.3 billion line of credit they secured to pay for it.
https://www.tipranks.com/news/company-announcements/seagate-tech-strengthens-financial-position-with-new-credit-deal

Maybe this means they are no longer interested in selling off the systems group.

@rb+1jm0zkyhb. AI

https://patents.google.com/patent/US20130148225A1/en

How is WD going to make HAMR media without Intevac? Anelva?

WTF! They are able to buy another company? Meanwhile employees are being treated like fe--s?!

Has the fine from Uncle Sam been paid off already? If not, those cash should go to the unpaid balance of 300M penalty before Seagate can make any move to buy a company with cash.

Yep get ready for the end of year bonus rug pull on all the people who haven't quiet quit thinking they will share in the company success. Oh, we are just not quite there yet financially they will say. Just hold on and work even harder for another full year and maybe just maybe you will get a bonus. LMAO! It's a complete joke folks.

The new department add will get a 0 capital budget like the rest of us and slow motion collapse into a total waste of money to due lack of sufficient investment.

Bye bye bonus, where did they get the money from?

It will be under legal, ha ha

The big question is what group will they be reporting into. Seagate's history is littered with wrecking perfectly good companies they acquired and part of this is due to who they were integrated with.

I can't keep doing the work of 4 people always in crisis mode on call 24/7 literally for years now and never any decent rewards. Hardly any days off. I'm quiet quitting. The whole tight on money so we can't help employees is the oldest lie in the playbook. Hopefully I will get a layoff package next time with a nice stash to casually look for something different to do that doesn't burn out all my life force and will to live.

Thread regarding Seagate Technology Inc. layoffs

Intevac

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