Feeds

EMC wins Data Domain with $2.1bn offer

NetApp blinks

Beginner's guide to SSL certificates

NetApp can't beat what EMC is offering for Data Domain. The company said on Wednesday it will not revise its proposal to purchase Data Domain to outdo EMC's new uprated bid.

Data Domain said it coughed up a $57m termination fee to NetApp under the terms of its previous merger agreement, ending a six-week bidding war over the data deduplication specialist.

EMC's winning all-cash bid of $33.50/share values Data Domain at about $2.1bn.

The Data Domain board had previously rejected EMC's unsolicited all-cash $30/share offer in favor of an equally-priced bid from NetApp in both cash and stock. Both companies wanted to assimilate Data Domain's market-leading dedupe storage array products into their own offerings.

NetApp CEO Dan Warmenhoven said in a statement that while buying Data Domain would have produced benefits for customers and employees, the company is "highly confident" in its existing competitive strengths.

"NetApp applies a disciplined approach to acquisitions, one focused intently on creating long-term value for our stockholders," he said. "We therefore cannot justify engaging in an increasingly expensive and dilutive bidding war that would diminish the deal's strategic and financial benefits."

In other words, it's not worth going hungry just to say you beat EMC.

Data Domain's board of directors said they've unanimously agreed to a merger with EMC and said the terms are in the best interest of Data Domain and its stockholders. ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.