EMC buys Data Domain
ConvergenceAsia staff
10/07/2009

EMC, developer and provider of information infrastructure technology and solutions, has entered into a definitive agreement with Data Domain, a leading provider of deduplication storage solutions, under which EMC will acquire Data Domain in a cash tender offer for US$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.”

Following the completion of the acquisition, which is expected to occur before the end of July, Data Domain will help accelerate EMC’s pace of expansion and leadership in the fast-growing next-generation disk-based backup and archive market.

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