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IDG News Service - Storage vendor Data Domain has agreed to be acquired by EMC for US$33.50 per share, ending a bidding war that had pitted EMC against NetApp.
Data Domain said Wednesday it has signed a definitive merger agreement with EMC and terminated its previously announced merger deal with NetApp. Data Domain said it paid NetApp a $57 million termination fee under terms of that agreement.
EMC launched a tender offer for Data Domain, a vendor of deduplication storage systems, on June 2. Data Domain said its board considers the terms to be in the best interests of its shareholders and recommends they tender their shares to EMC.
EMC's offer is set to expire July 17, but EMC can extend the offer period if it needs to.