Welcome to our dedicated page for Intevac news (Ticker: IVAC), a resource for investors and traders seeking the latest updates and insights on Intevac stock.
Intevac, Inc. (IVAC) delivers innovative thin film processing systems and advanced photonics solutions for industrial manufacturing and defense applications. This news hub provides investors and industry professionals with essential updates on the company's technological advancements, strategic initiatives, and market developments.
Access official press releases and curated analysis covering IVAC's equipment innovations for hard disk production, breakthroughs in vacuum coating technology, and defense-focused digital sensor advancements. Our repository includes updates on quarterly earnings, product launches, and strategic partnerships that shape the company's position in precision manufacturing and night vision systems.
Key content includes:
• Production milestones in thin film deposition systems
• Defense contract announcements for digital imaging solutions
• Technology partnership updates across manufacturing sectors
• Financial performance reports and strategic roadmap insights
Bookmark this page for streamlined access to IVAC's latest developments in high-productivity manufacturing equipment and mission-critical photonics systems. Stay informed about the company's progress through verified updates from primary sources and industry analysis.
Seagate Technology Holdings (Nasdaq: STX) has completed the acquisition of Intevac Inc. through a cash tender offer and subsequent merger. The transaction, announced on February 13, 2025, valued Intevac shares at $4.00 per share in cash.
The tender offer expired on March 28, 2025, with approximately 87.95% of Intevac's outstanding shares (23,968,013 shares) being validly tendered. The merger was completed on March 31, 2025, making Intevac a wholly owned subsidiary of Seagate. Following the acquisition, Intevac shares ceased trading and were delisted from the Nasdaq Global Select Market.
Intevac (Nasdaq: IVAC) has announced a one-time special cash dividend of $0.052 per share of common stock, payable on March 28, 2025, to stockholders of record as of March 24, 2025. This special dividend is connected to Seagate Technology Holdings' proposed acquisition of Intevac through a tender offer at $4.00 per share in cash.
The tender offer is set to expire one minute after 11:59 p.m., Eastern Time, on March 28, 2025. Intevac's Board of Directors has unanimously recommended that stockholders tender their shares. Importantly, stockholders who participate in the tender offer will maintain their eligibility to receive the special cash dividend.
Seagate Technology Holdings (STX) has announced a definitive agreement to acquire Intevac (IVAC) in an all-cash transaction valued at approximately $119 million. Intevac stockholders will receive $4.00 per share in cash, plus a special dividend of $0.052 per share and a regular quarterly dividend of $0.05 per share, totaling $4.102 per share.
The offer represents a 45% premium to Intevac's closing price of $2.83 on December 11, 2024, and a 21% premium to its February 12, 2025 closing price. Two major stockholders, representing approximately 22% of Intevac's shares, have agreed to support the transaction. The deal is expected to close in late March or early April 2025, subject to customary conditions including a minimum tender of over 50% of shares.
Seagate expects the acquisition to be accretive to non-GAAP EPS over the long-term with minimal short-term impact.
Intevac (NASDAQ: IVAC), a leading supplier of thin-film processing systems, has scheduled its fourth quarter and fiscal year 2024 earnings conference call for Tuesday, February 25th, 2025, at 1:30 p.m. PT (4:30 p.m. ET).
The company will host the call via both telephone and webcast. Investors can access the call toll-free at 1 (877) 407-0989 from the U.S. or +1 (201) 389-0921 internationally, using meeting number 13751168. A live webcast will be available through the company's investor relations website, and an archived version will be accessible for those unable to attend the live event.
Intevac (NASDAQ: IVAC) has announced several strategic updates: The company expects to end 2024 with $70-72 million in cash and projects 2025 revenue of $52-55 million. Starting Q1 2025, Intevac will initiate a quarterly dividend of $0.05 per share. The company is closing its TRIO technology business, resulting in a one-time charge of up to $35 million, including $1 million in cash charges and $34 million in non-cash charges.
The company is refocusing on its Hard Disk Drive (HDD) sector, projecting approximately $200 million in revenue over the next three years. Intevac has secured a second significant customer for HAMR technology and continues working with Houlihan Lokey to explore strategic alternatives to increase stockholder value.
Intevac (NASDAQ: IVAC) reported Q3 2024 financial results with revenues of $28.5 million, including $13 million from HDD upgrades, spares, and field service, plus $15 million from an inventory transfer agreement. The company posted a net loss of $2.2 million, or $0.08 per share. Gross margin was 24.8%, impacted by approximately 20 percentage points due to inventory-related adjustments. The company ended the quarter with $72.1 million in total cash, cash equivalents, restricted cash and investments, and order backlog stood at $44.4 million. Technology upgrades supporting next-generation HAMR media continue to drive the majority of business operations.
Intevac (IVAC) has appointed Ryan L. Vardeman to its Board of Directors, effective immediately. Vardeman is a principal and co-founder of Palogic Value Fund, L.P., a substantial shareholder of Intevac. The appointment comes with a cooperation agreement between Intevac and Palogic. Board Chair Kevin Barber expressed confidence that Vardeman will enhance the Board's strength in building stockholder value. Vardeman stated his commitment to supporting management's initiatives to improve profitability, operational efficiency, and value creation.
Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, has announced it will release its fiscal third quarter 2024 financial results on Monday, November 11th, 2024, at approximately 1 p.m. PT (4 p.m. ET). Following the release, Intevac management will host a teleconference at 1:30 p.m. PT (4:30 p.m. ET) to discuss the Company's financial results.
Interested parties can participate in the teleconference by calling toll-free (877) 407-0989 for domestic callers or +1 (201) 389-0921 for international callers, referencing meeting number 13748961. The call will also be available via live webcast at https://www.webcast-eqs.com/login/intevac111124 or on Intevac's investor relations website. An archived version of the webcast will be accessible at the same link for those unable to attend the live event.
Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, has announced the appointment of Kevin Barber as the new Board Chairman, effective immediately. Barber succeeds David S. Dury, who has served as Board Chairman since 2017 and will remain on the Board until the 2025 annual meeting of stockholders.
Dury has overseen significant upgrades at the Board level, led the hire of CEO Nigel Hunton in 2022, and oversaw the sale of Photonics in 2021. Barber, who joined the Board in 2018, brings relevant expertise from his experience growing businesses such as Synaptics and building semiconductor manufacturing capability.
Intevac's CEO, Nigel Hunton, expressed gratitude for Dury's contributions and confidence in Barber's ability to support the company's growth strategy and deliver shareholder value.
Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems, has appointed Eiji Miyanaga as a new independent director to its Board. Miyanaga brings extensive experience from his roles at Ferrotec Holdings , where he served on the board and as CEO of Ferrotec USA. His appointment is aimed at enhancing Intevac's growth potential in Asia-based electronics manufacturing markets.
CEO Nigel Hunton emphasized that Miyanaga's expertise aligns with Intevac's focus on accessing new markets with significant growth potential, particularly in the Asia-based electronics supply chain. Miyanaga expressed excitement about joining Intevac during the launch of its TRIO™ platform, highlighting the importance of success in Asian markets for the company's future growth.
