Tuesday, July 7, 2009

EMC Announced Definitive Deal to Acquire Data Domain

Following a protracted bidding war with NetApp, EMC Corporation announced a definitive agreement to acquire Data Domain , a leading provider of deduplication storage solutions, in a cash tender offer for $33.50 per share. The transaction is expected to have a total enterprise value of approximately $2.1 billion, net of Data Domain's cash.

Joe Tucci, EMC Chairman, President and CEO, said, "This is a compelling acquisition from both a strategic and financial standpoint. We look forward to bringing Data Domain together with EMC to form a powerful force in next-generation disk-based backup and archive. I have tremendous respect for Data Domain's people, technology and business, and anticipate great things ahead for our respective companies, our customers and partners."http://www.emc.com

See also