Wasabi Technologies to Acquire Seagate's Lyve Cloud Business

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

Apr. 9, 2026 at 2:59pm

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A minimalist, photorealistic studio still life featuring a sleek, metallic data storage device and a smooth, matte-black cloud icon floating on a clean, monochromatic background, conceptually representing the merger of Wasabi's cloud storage solutions and Seagate's Lyve Cloud platform.The acquisition of Seagate's Lyve Cloud business will allow Wasabi Technologies to offer a more comprehensive suite of cloud storage solutions to its customers.Boston Today

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

Why it matters

The acquisition of Lyve Cloud by Wasabi is a significant move in the cloud storage industry, as it will enable Wasabi to offer a more comprehensive suite of cloud storage solutions to its customers. This deal also highlights the ongoing consolidation in the cloud storage market as providers seek to gain a competitive edge.

The details

Under the terms of the agreement, Wasabi will acquire Seagate's Lyve Cloud business, which includes the Lyve Cloud platform and related assets. Lyve Cloud is a cloud storage service that provides businesses with scalable, secure, and cost-effective data storage solutions. The integration of Lyve Cloud into Wasabi's offerings will allow the company to better serve its customers' growing data storage needs.

  • The acquisition was announced on April 9, 2026.

The players

Wasabi Technologies

A leading provider of cloud storage solutions that is acquiring Seagate's Lyve Cloud business.

Seagate

A global leader in data storage solutions that is selling its Lyve Cloud business to Wasabi Technologies.

Lyve Cloud

Seagate's cloud storage service that is being acquired by Wasabi Technologies as part of this deal.

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What they’re saying

“This acquisition is a strategic move that will allow us to better serve our customers' growing data storage needs. By integrating Lyve Cloud into our offerings, we can provide our customers with an even more comprehensive suite of cloud storage solutions.”

— 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 providing customers with innovative and reliable cloud storage solutions.”

— Gianluca Rattazzi, Executive Vice President and General Manager of Seagate's Cloud Systems and Electronics Solutions business

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 Lyve Cloud by Wasabi Technologies is a significant move in the cloud storage market, as it will allow Wasabi to expand its offerings and better serve the growing data storage needs of its customers. This deal highlights the ongoing consolidation in the industry as providers seek to gain a competitive edge.