Seagate Files IPO Application

In a gutsy move in the sluggish technology market, Seagate Technology Holdings has filed an S-1 with the S.E.C. to raise as much as $1 billion in an initial public stock offering. Seagate, one of the largest manufacturers of computer hard drives in the world, is based in Scotts Valley, California. According to its filing with the Securities and Exchange Commission, Seagate's investors include a group led by well-known venture capitalist Roger McNamee and financier David Bonderman, who previously took Seagate private in 2000.