Feeds

EMC squares $1.1bn DG buy out

NUMA's up as DG gets clarion call

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

EMC is to buy Data General (DG) for $1.1 billion in stock, the companies announced today. EMC will issue 0.3262 of a share of common stock for each DG shares. The deal values DG at around $19.58 per share, based on EMC's 6 August closing stock price. Through the deal, EMC will swallow DG's CLARiiON storage products. DG's AviiON server business will operate as a separate unit of EMC, the companies said. EMC also plans to use DG's R&D knowledge in Intel-based systems across its existing product range. Completion of the buyout is expected before the end of the year. EMC said it expected the acquisition to boost profits for 2000 and 2001. DG shares closed at $13.19 on Friday on the New York Stock Exchange and EMC closed at $60.06. Michael Ruettgers, EMC president and CEO, said: "Data General's products have proven technology leadership in the mid-range storage market, particularly in the Windows NT and UNIX environments, but have lacked the global distribution and support needed to achieve their full market potential." ®

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.