Boston’s own Wasabi Technologies has finally bagged the prize it has been chasing for roughly two years, officially closing its acquisition of Seagate’s Lyve Cloud. The deal pulls Seagate’s S3-compatible object storage service into Wasabi’s “hot cloud” stable and instantly broadens the Boston firm’s reach with large enterprise customers. Wasabi co-founder and CEO David Friend told local business reporters the closing is a strategic step as the company leans harder into higher-performance and AI-focused storage.
What Was Purchased
Launched in 2021, Lyve Cloud is Seagate’s S3-compatible object storage service, built for heavy-duty data jobs like archiving, media workflows and long-term retention, with a spotlight on predictable pricing and broad regional coverage. That positioning and feature set are laid out by Seagate.
How the Deal Came Together
Wasabi’s purchase, described by company leadership as the end of a two-year pursuit, was first reported by the Boston Business Journal, which quoted CEO David Friend confirming the closing. The outlet reported that terms were not disclosed and characterized the transaction as a strategic bolt-on that folds Lyve customers and infrastructure into Wasabi’s existing channel and product roadmap.
Why It Matters For Wasabi
The timing lines up with Wasabi’s broader push into AI and enterprise workloads. Earlier this year, the company announced a $70 million equity round and rolled out an NVMe tier called “Wasabi Fire” aimed at latency-sensitive training and inference use cases. In a January press release via Wasabi, the company said the new funding and platform upgrades are intended to accelerate its AI infrastructure strategy and expand its global reach, with Lyve Cloud fitting in as a complementary extension of that plan.
Customers, Migration And Channel
Seagate’s Lyve materials already point to Wasabi as an S3-compatible migration target and outline cloud import services that move large archives between providers. Those technical links, documented by Seagate, are expected to ease the path for enterprises that choose to migrate or to keep running on Lyve’s stack under Wasabi’s ownership. Channel partners, meanwhile, will be watching whether Wasabi keeps Lyve’s pricing and migration tooling intact or nudges customers toward its existing partner programs.
With Lyve Cloud now in the fold, Wasabi gains more heft in the already crowded field of S3-compatible storage vendors and adds scale as a private challenger trying to pressure hyperscalers on price and performance. Deal terms remain under wraps, and both companies had offered only limited public detail at the time of reporting, according to the Boston Business Journal. For customers and partners, the near-term focus will be on integration plans, pricing guidance for migrated accounts and whether Wasabi keeps Lyve’s migration tools and no-egress-fee approach intact.
