Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Data Domain Accepts NetApp's Revised Offer

Data Domain has again agreed to be acquired by NetApp, and made it clear that it isn't interested in being acquired by EMC. But the company's board claims it is reviewing EMC's offer.

NetApp and Data Domain issued a joint statement late Wednesday that they have entered into a revised acquisition agreement at the new price of $30 per share, which NetApp offered to match a bid made by EMC earlier this week. The deal is valued at around $1.9 billion.

Dan Warmenhoven, chairman and CEO of NetApp, said in the statmenent: "We are excited about this great opportunity for NetApp and Data Domain. The synergies between our two companies will enable us to accelerate growth and market adoption more so than as separate entities. This partnership will create meaningful benefits for our global customers."

Frank Slootman, president and CEO of Data Domain, said: "We are pleased with the revised terms of NetApp's acquisition offer and feel it will provide great value to our shareholders and customers."

The companies noted that the deal has been unanimously approved by Data Domain's board and is expected to close in 60 to 110 days, subject to regulatory approval.

  • 1