Sunday, May 31, 2009

EMC Proposes to Acquire Data Domain, Outbidding NetApp

EMC announced a bid to acquire all of the outstanding common stock of Data Domain, Inc. (NASDAQ: DDUP) for $30.00 per share in cash, in a transaction with a total enterprise value of approximately $1.8 billion, net of Data Domain's cash. EMC's all-cash offer represents a 20% premium to the cash and stock offer made by NetApp for Data Domain on May 20, 2009.

EMC said it is bidding to acquire Data Domain for its fast-growing revenue base, its strong data protection-focused management team and sales force and its highly complementary storage software technology that will help to accelerate both companies' ability to deliver next-generation disk-based backup and archiving solutions for customers.htp://