Seagate Technology Holdings plc

What does Seagate Technology own?

Seagate owns the Seagate master brand plus the premium LaCie storage brand acquired in 2014. Its product lines include Exos enterprise drives, IronWolf NAS drives, FireCuda performance storage, and the Lyve data platform.

Is Seagate publicly traded?

Yes. Seagate Technology Holdings plc trades on Nasdaq under the ticker STX. It has been public since its 2002 relisting after a two-year private period.

Who founded Seagate?

Alan Shugart, Douglas Mahon and Finis Conner founded the company in Scotts Valley, California in 1979 as Shugart Technology. It was renamed Seagate Technology to avoid a trademark conflict with Shugart's earlier floppy disk company.

Where is Seagate headquartered?

Seagate is legally domiciled in Dublin, Ireland, since a 2010 reincorporation, and operationally headquartered in Fremont, California. Manufacturing spans the US, China, Malaysia, Northern Ireland, Singapore and Thailand.

Who owns Seagate?

Seagate is a widely held public company with no controlling shareholder. Its largest investors are institutional asset managers including Vanguard and BlackRock. Dave Mosley serves as CEO.

What is Seagate's revenue?

Seagate reported $9.1 billion in revenue for fiscal 2025, up sharply from $6.6 billion in fiscal 2024 as AI-driven cloud storage demand recovered. Mass-capacity nearline drives generated the majority of revenue.

Alan Shugart, Douglas Mahon and Finis Conner founded the company in Scotts Valley, California in 1979 as Shugart Technology. The name came from Shugart Associates, an earlier floppy disk company Alan Shugart had co-founded; the hard drive venture was forced to change names to avoid trademark conflict with the older firm. Conner later left to found rival Conner Peripherals, which Seagate eventually acquired in 1996 in one of the industry's landmark consolidations.

Through the 1980s and 1990s Seagate led the transition from 5.25-inch to 3.5-inch drives and built a reputation for vertical integration, manufacturing its own read-write heads, media and components. A series of acquisitions expanded the franchise: Control Data's Imprimis disk drive business in 1989, Conner Peripherals in 1996, and Maxtor in 2005, which made Seagate the largest drive maker by market share.

In 2000 an investor group took the company private in a complicated $20 billion transaction that also involved the sale of Seagate's stake in Veritas Software, then relisted it in 2002. Seagate reincorporated in Ireland in 2010 for tax purposes, joining a wave of tech companies adopting Irish holding structures. In 2014 it acquired LaCie, the premium external storage brand, adding a design-led consumer line.

The company navigated the industry's long decline in unit volumes as SSDs displaced hard drives in PCs, while enterprise and cloud capacity demand grew. It pivoted toward nearline and mass-capacity drives for hyperscale data centers, developed HAMR (heat-assisted magnetic recording) technology for higher densities, and in 2024 completed the transition to Mozaic 3+ HAMR platform production. Fiscal 2025 revenue reached $9.1 billion, up from $6.6 billion the prior year, as cloud customers rebuilt storage capacity for AI workloads.

Seagate publishes an annual sustainability report covering emissions, renewable energy procurement, responsible sourcing and workforce programs. It is a member of the Responsible Business Alliance and subject to its Code of Conduct across manufacturing sites. The company has committed to science-based emissions targets and reports Scope 1, 2 and 3 emissions.

Like other electronics manufacturers, Seagate operates in regions with elevated supply chain labor and environmental standards scrutiny, and it is required under US law to report on conflict minerals sourcing in its supply chain.

Seagate's most significant regulatory event was a $300 million penalty imposed by the US Department of Commerce's Bureau of Industry and Security in 2023 for selling hard drives to Huawei in violation of export control rules. It was the largest standalone penalty in BIS history. Seagate acknowledged the violation and paid the fine.

The company has also faced periodic class-action litigation over hard drive reliability and failure rates, and it is regularly drawn into patent disputes common to the storage industry. Export control compliance remains a live risk given its China manufacturing footprint and geopolitical tensions affecting semiconductor and storage supply chains.