Originally posted by panoguy Silver Lake Partners - private investment bankers. They no longer have shareholders to respond to... the crappy drives started coming out 2 or 3 years after that (even before they bought Maxstor).
Seagate was traded for most of its life as a
public company under the symbol "SGAT" on the
NASDAQ system, then moved to the
NYSE system under the symbol "SEG" in the 1990s. In 2000, Seagate incorporated in the Cayman Islands in order to reduce income taxes. In 2000, the company was taken private by an investment group composed of Seagate management,
Silver Lake Partners,
Texas Pacific Group and others in a three-way merger-spinoff with
Veritas Software; Veritas merged with Seagate, which was bought by the investment group. Veritas was then immediately spun off to shareholders, gaining rights to Seagate Software Network and Storage Management Group (with products such as
Backup Exec), as well as Seagate's shares in
SanDisk and
Dragon Systems. Seagate Software Information Management Group was renamed
Crystal Decisions in May 2001. Seagate re-entered the public market in December 2002 on the NASDAQ as "STX." They reincorporated in 2010 in Ireland.