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Seagate Technology Terminates Private Equity Discussions And Announces Share Repurchase Authorization

SCOTTS VALLEY, Calif. – November 29, 2010 – Seagate Technology plc (NASDAQ: STX) today announced its board of directors terminated discussions with private equity firms regarding a going private transaction, principally because it determined that the indications of the valuation range were not in the best interest of the company and its shareholders. As previously announced by Seagate on October 14, 2010, the company had received a preliminary indication of interest regarding a going private transaction and its board of directors was in discussions with that party.

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