Seagate Technology

Seagate Technology is one of the oldest hard drive manufacturers still in operation today, and is currently one of the largest manufacturers worldwide. They design and manufacture a wide variety of drives for use in consumer settings like gaming computers and portable electronics as well as commercial settings such as server storage.

On January 12, 2009, Seagate announced that company chairman Steve Luczo would replace Bill Watkins as CEO. Seagate did not give an explanation for the decision. Luczo served as CEO of Seagate from 1998-2004, when Watkins succeeded him in the position. Also in January 2009, Seagate announced it would cut about 10% of its U.S. workforce as part of a restructuring program.FT.com: Seagate cuts jobs, replaces CEO (January 12, 2009)

• 1979: Company founded under the name, Shugart Technology

• 1980: Release their first hard drive, the ST-506

• 1989: Acquired Control Data's disk storage division

• 1992: Releases the Barracuda, the first hard disk with 7200 RPM spindle speed

• 1996: Releases the Cheetah, the first 10000 RPM drive

• 2000: Releases the X15, the first 15000 RPM drie

• December 21, 2005: Confirmed acquisition of chief rival, Maxtor, for $1.9 billion of stock.

• May, 2006: Merger transaction completed, and Maxtor operations fully integrated