End of an era in Scotts Valley as Seagate Technology informs employees that they will not be renewing their lease at 4575 Scotts Valley Drive which expires in May, 2017. They look to relocate some of their employees to their Cupertino location.

Seagate got it’s start here in Scotts Valley back in 1979 under the name of Shugart Technology (name ring a bell?) and at one time was Scotts Valley largest employer.

The attached image is the company’s first ever product, called the Seagate ST 506, a 5.25 HDD with an amazing (back then) 5 megabytes of storage at a price of about $1,500 ($4,315 in today’s dollars).

Today you can buy a Seagate 1TB hard drive for about $59 and a whopping 8TB hard drive for $229.