Wasabi Technologies Acquires Seagate's Lyve Cloud Business

The deal expands Wasabi's cloud storage offerings and customer base.

Apr. 9, 2026 at 5:44pm

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A highly reflective, polished metal and glass data storage device resting on a clean, monochromatic background, dramatically lit to symbolize the abstract concepts of cloud computing and enterprise data management.A premium data storage device symbolizes the expanding cloud computing capabilities that Wasabi Technologies will offer its enterprise customers through the acquisition of Seagate's Lyve Cloud business.Boston Today

Wasabi Technologies, a leading provider of cloud storage solutions, has announced the acquisition of Seagate's Lyve Cloud business. The move will allow Wasabi to expand its cloud storage offerings and customer base, solidifying its position in the rapidly growing cloud storage market.

Why it matters

The acquisition of Lyve Cloud by Wasabi is a significant development in the cloud storage industry. It allows Wasabi to leverage Seagate's existing customer base and technology, strengthening its competitive position against larger players like Amazon Web Services and Microsoft Azure.

The details

Under the terms of the deal, Wasabi will take over Seagate's Lyve Cloud business, including its technology, customer contracts, and employees. Lyve Cloud is a cloud storage service that provides secure, scalable, and cost-effective storage solutions for enterprise customers. The integration of Lyve Cloud's offerings into Wasabi's platform will create a more comprehensive suite of cloud storage services for Wasabi's customers.

  • Wasabi Technologies announced the acquisition of Seagate's Lyve Cloud business on April 9, 2026.

The players

Wasabi Technologies

A leading provider of cloud storage solutions that offers secure, scalable, and cost-effective storage services to enterprise customers.

Seagate

A global leader in data storage solutions, including hard disk drives and cloud storage services.

Lyve Cloud

Seagate's cloud storage service that provides secure, scalable, and cost-effective storage solutions for enterprise customers.

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What they’re saying

“This acquisition is a strategic move that will allow Wasabi to further strengthen its position in the cloud storage market and provide our customers with an even more comprehensive suite of services.”

— David Friend, Co-founder and CEO of Wasabi Technologies

“We are excited to see Lyve Cloud join forces with Wasabi, a company that shares our commitment to innovation and customer success. This combination will enable us to deliver even more value to our customers.”

— Ravi Naik, Executive Vice President and Chief Information Officer of Seagate

What’s next

The acquisition is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.

The takeaway

The acquisition of Seagate's Lyve Cloud business by Wasabi Technologies is a significant move that will strengthen Wasabi's position in the cloud storage market and provide its customers with a more comprehensive suite of cloud storage services.