Seagate in talks to be acquired

The storage vendor announced it was in talks to take the company off the Nasdaq stock exchange and become private again

US-based storage vendor, Seagate, is in talks to be taken off the Nasdaq stock market.

According to Bloomberg, the vendor said it was in discussions with unnamed parties to take the company private.

There is speculation one of the parties involved is private equity investment firm and Seagate’s former owner, TPG Capital.

Seagate has a market value of $6 billion and has been tipped as a strong buy by analysts.

TPG and IT private investment firm, Silver Lake, bought Seagate in 2002.