Feeds

EMC trumps NetApp bid for Data Domain

$1.8bn all-cash offer 'substantially superior'

Build a business case: developing custom apps

EMC is crashing NetApp's wedding to Data Domain with a trumping bid of $1.8 billion to purchase the company.

Two weeks ago, NetApp proposed to acquire the dedupe specialist for $1.5 billion in cash and stock.

EMC called its all-cash proposal today "superior" to NetApp's offer and said the deal provides Data Domain stockholders with "greater value and certainty."

The $30 per share cash bid represents a 20 per cent premium over NetApp's May 20 announcement.

"Strategically, this combination will further enhance our ability to broaden EMC's best-in-class storage portfolio for the benefit of EMC and Data Domain customers and this, in turn, will accelerate EMC's top-and bottom-line growth rates," said EMC chief executive, Joe Tucci, in a statement. "Our substantially superior proposal is a win-win for both companies."

Tucci said during a conference call that EMC had been attracted by Data Domain's fast-growing revenue base for a while now, but "obviously someone got there first."

He said Data Domain would be run as a product group within EMC with increased R&D investment. Emphasizing that the deal is focused on revenue growth, Tucci added that the combination of EMC's DL4000, Avamar, and Data Domain's product set represents a $1bn business.

There was no immediate comment from Data Domain or NetApp, although Data Domain shares were up 19.23 per cent at closing. ®

Build a business case: developing custom apps

More from The Register

next story
Sysadmin Day 2014: Quick, there's still time to get the beers in
He walked over the broken glass, killed the thugs... and er... reconnected the cables*
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Microsoft says 'weird things' can happen during Windows Server 2003 migrations
Fix coming for bug that makes Kerberos croak when you run two domain controllers
Cisco says network virtualisation won't pay off everywhere
Another sign of strain in the Borg/VMware relationship?
VVOL update: Are any vendors NOT leaping into bed with VMware?
It's not yet been released but everyone thinks it's the dog's danglies
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
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.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.