09:00 AM EST, 02/13/2025 (MT Newswires) -- Seagate Technology ( STX ) has agreed to acquire Intevac ( IVAC ) in an all-cash deal for $4 per share, the companies said Thursday.

The deal is expected to close in late March or early April, according to the companies.

Seagate ( STX ) and Intevac ( IVAC ) said that in connection with the transaction's completion, Intevac ( IVAC ) will pay a $0.052 per-share one-time special dividend that is expected to be paid on or about the closing of the deal.

Separately, the Intevac ( IVAC ) board approved a regular quarterly dividend of $0.05 per share, payable March 13 to Intevac ( IVAC ) stockholders of record on Feb. 28.

The companies said the deal has a total value of about $119 million including the dividends.

Seagate ( STX ) shares rose 0.3% and Intevac ( IVAC ) shares climbed 20% in recent premarket activity.