Nonetheless, Powell confirmed that today's round was led by Seagate's chairman Steve Luczo. Existing investor Oak Investment Partners also participated in the round.
The last few years have certainly seen big changes at Xiotech, which underwent layoffs and a major restructuring in 2005 and recently moved into new areas such as e-discovery and storage services.
Xiotech's fortunes nonetheless appear closely tied to those of Seagate. The Eden Prairie, Minn.-based vendor was itself spun out of Seagate in 2002, and today's announcement appears to underline the strong ties that still exist between the two firms. In addition to leading the round, Seagate exec Luczo has also joined Xiotech's board of directors.
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