Seagate Technology (STX) has agreed to acquire Intevac (IVAC) in an all-cash deal for $4 per share, the companies said Thursday.

The deal is expected to close in late March or early April, according to the companies.

Seagate and Intevac said that in connection with the transaction's completion, Intevac will pay a $0.052 per-share one-time special dividend that is expected to be paid on or about the closing of the deal.

Separately, the Intevac board approved a regular quarterly dividend of $0.05 per share, payable March 13 to Intevac stockholders of record on Feb. 28.

The companies said the deal has a total value of about $119 million including the dividends.

Seagate shares rose 0.3% and Intevac shares climbed 20% in recent premarket activity.