Wasabi Technologies to acquire Lyve Cloud Business

Wasabi Technologies, a cloud storage provider, has announced its acquisition of the Lyve Cloud business from Seagate Technology LLC, a company specialising in mass-capacity data storage. 

The acquisition expands Wasabi’s position in the cloud storage market. Lyve Cloud’s existing enterprise customer base is expected to transition to Wasabi, with access to its global network of data centres, security features, and technical support services.

The transaction is aligned with Seagate’s strategy to focus on its core mass-capacity storage business in response to growing demand for data storage. Lyve Cloud customers will continue to be supported through Wasabi’s cloud storage services.

Demand for storage is increasing due to AI initiatives, analytics workloads, and long-term data retention requirements. As a result, organisations are reassessing cloud costs and simplifying their storage providers, with preference often given to services offering predictable pricing, security, and scalable performance.

Lyve Cloud has been positioned as an enterprise storage platform with security and compliance features. Following the acquisition, the combined offering is intended to provide an alternative option for enterprise cloud storage requirements.

Wasabi and Lyve Cloud both have integrations with data protection and backup providers including Veeam, Rubrik, and Commvault. The acquisition is expected to simplify integration for customers and partners by reducing the number of S3-compatible storage platforms they need to manage.

The combined platform is intended to support enterprise backup and recovery workloads, while continuing to offer cloud storage with predictable pricing outside of hyperscale cloud providers.