EMC bids $1.8 billion for Data Domain

EMC on Monday moved to head off NetApp's proposed acquisition of data de-duplication vendor Data Domain, offering about US$1.8 billion compared with NetApp's May 20 bid of $1.5 billion.

EMC on Monday moved to head off NetApp's proposed acquisition of data de-duplication vendor Data Domain, offering about $1.8 billion compared with NetApp's May 20 bid of $1.5 billion.

View slideshow of 2009's hottest tech M&A deals

The dominant storage vendor plans to combine Data Domain's data de-duplication technology with its own to tap into the growing market for data de-duplication, an archiving technology that eliminates duplicate bits of information to use storage capacity more efficiently.

EMC proposed offering $30 per share from its existing cash reserves for Data Domain. It would run the acquired company as a division of EMC and increase research and development investment, EMC Chairman, President and CEO Joe Tucci said on a conference call to discuss the offer.

"This acquisition is all about accelerating growth," Tucci said.

From CSO: 7 security mistakes people make with their mobile device
Join the discussion
Be the first to comment on this article. Our Commenting Policies