Seagate Buys Mirra - Terms Undisclosed

Seagate has purchased Mirra Wednesday afternoon, adding storage appliance technology for the home and small office.


Peter Radsliff, VP Marketing had commented on our blog earlier in the year that the company was doing well. Mirra raised a total of $11M from Seqouia, Ventures Strategy Partners, Camp Ventures, and others. Company had good distribution channels (Amazon, Besbuy, dell, newegg, etc) and an importantpatent (Peer to Peer Remote Data Storage and Collaboration). Seagate, Maxtor, Western Digital all trade at roughly a 0.5x - 1x this and next year's revenue multiple so the Mirra acquisition would probably be in that range or slightly higher. Mirra has found a nice home considering the highly competitive space it plays in against the likes of Maxtor, D-Link, Xformx, and PrismIQ, who all offer a similar type of solution.


According to ExtremeTech, "Terms of the deal were not disclosed, but were not materially significant. Mirra's 34 employees will become a wholly-owned subsidiary of Seagate, effective immediately. "

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