It was the first hard disk to fit the 5.25-inch form factor of the Shugart mini-floppy drive. The company's first product, the ST-506, with a storage capacity of 5 megabytes (MB), was released in 1980. The name was changed to Seagate Technology to avoid a lawsuit from Xerox's subsidiary Shugart Associates (also founded by Shugart). The company came into being when Conner approached Shugart with the idea of starting a new company to develop 5.25-inch HDDs which Conner predicted would be a coming economic boom in the disk drive market. Seagate Technology (then called Shugart Technology) was incorporated on November 1, 1978, and commenced operations with co-founders Al Shugart, Tom Mitchell, Doug Mahon, Finis Conner, and Syed Iftikar in October 1979. Seagate ST-225, cover removed Founding as Shugart Technology Today, Seagate, along with its competitor Western Digital, dominates the HDD market. Seagate acquired Conner Peripherals in 1996, Maxtor in 2006, and Samsung's HDD business in 2011. In 1989, Seagate acquired Control Data Corporation's Imprimis division, the makers of CDC's HDD products. Much of their growth has come through their acquisition of competitors. They were a major supplier in the microcomputer market during the 1980s, especially after the introduction of the IBM XT in 1983. Seagate developed the first 5.25-inch hard disk drive (HDD), the 5-megabyte ST-506, in 1980.

Since 2010, the company has been incorporated in Dublin, Ireland, with operational headquarters in Fremont, California, United States. It was incorporated in 1978 as Shugart Technology and commenced business in 1979. Seagate Technology Holdings plc is an American data storage company.

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