Expanding Cloud Storage Capabilities
In a significant move, Wasabi Technologies announced the acquisition of the Lyve Cloud business from Seagate Technology LLC, a renowned innovator in mass-capacity data storage. This acquisition is expected to be finalised by the end of the year, marking a pivotal expansion in Wasabi’s cloud storage capabilities. Seagate will receive equity in Wasabi, becoming a shareholder, although the financial specifics have not been disclosed.
David Friend, co-founder and CEO of Wasabi Technologies, stated, “This acquisition strengthens our position as the world’s leading pure-play cloud storage vendor.” He noted the loyalty of Seagate’s enterprise customer base for Lyve Cloud, which Wasabi is eager to integrate. Wasabi plans to support these customers using its extensive global network of data centers and innovative security features like Covert Copy.
The integration of Lyve Cloud into Wasabi’s operations will enhance their enterprise-ready storage platform, known for robust security and compliance capabilities. This strategic move offers enterprise clients predictable pricing and improved security measures. Wasabi and Lyve Cloud share partnerships with leading data protection providers such as Veeam, Rubrik, and Commvault, simplifying solutions for customers by reducing the complexity of managing multiple S3-compatible storage vendors.
