Critical.
Authoritative.
Strategic.
Subscribe to CIO Magazine »

EMC extends deadline for its Data Domain bid

EMC's $1.8 billion offer extended by 11 days

EMC has extended from June 29 to July 10 the deadline on its US$1.8 billion offer to purchase all outstanding shares of storage backup vendor Data Domain, in an effort to entice Data Domain to abandon a deal with NetApp.

Data Domain, in late May, had agreed to be acquired by NetApp for $1.5 billion, but EMC made its $1.8 billion on June 1. NetApp then boosted its offer, and Data Domain said both bids are worth about $30 per share.

On June 15, Data Domain's board of directors recommended that the company's shareholders reject the EMC offer, saying that backing out of the NetApp deal could leave the company without a buyer. Data Domain had not been able to negotiate with EMC with the NetApp offer on the table, and the EMC offer could still fall through, the board said.

EMC's offer remains the better one because it's an all-cash offer, not a cash and stock deal, Joe Tucci, EMC's chairman, president and CEO said in a statement. The EMC offer "delivers to Data Domain stockholders the price certainty and price protection its management team and board stated as important priorities during their negotiations with NetApp," he said in a Friday statement.

Data Domain had no further comment Monday.

Data Domain makes enterprise backup products and has been a pioneer in data deduplication, a technology for reducing capacity requirements that most storage companies are now using.

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

More about: Data Domain, EMC, NetApp, NetApp

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
Users posting comments agree to the CIO comments policy.
Login or register to link comments to your user profile, or you may also post a comment without being logged in.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: data domain, EMC
Latest Blog Posts
Whitepapers
  • Case Study: NZ Bus Develops Applications 60% Faster, Improves Database Performance by up to 35%
    Key Benefits: Developed applications 60% faster, Created development and test environments in minutes compared to days and weeks previously, Reduced server costs by 30% with server virtualisation, Saved NZ$40,000 in database administrator training costs, Provided high availability features that keep the database and core applications up and running in the event of a server failure, Introduced compression capabilities that improved database performance by 30% to 35%. Read on.
    Learn more »
  • Unified Monitoring™ A Business Perspective
    The enterprise computing landscape has changed dramatically. Virtualisation, outsourcing, SaaS, and cloud computing are creating fundamental changes, and ushering in an era in which enterprises distribute increasingly critical IT assets and applications across multiple service providers.This paper explores today’s computing trends and their monitoring implications in detail. In addition, it reveals how a new monitoring paradigm architecture, that uniquely addresses the monitoring realities of today’s and tomorrow’s enterprises—whether they rely on internal platforms, external service providers, or a combination of both.
    Learn more »
  • Setting a strategy for secure mobile printing
    Where, when and how we work is changing. Increasingly, we’re doing business on the road, at the office without a dedicated workstation and from our home offices. A 2010 InfoTrends survey of more than 1,400 mobile knowledge workers in Brazil, Germany, India, Japan and the U.S. echoes this trend. Respondents reported spending, on average, more than half of their time away from hard-wired network access. Implementing an effective strategy to make printing secure and simple for employees—regardless of where those employees happen to be—can help reduce security risks. Read more.
    Learn more »
All whitepapers
rhs_login_lockGet exclusive access to Invitation only events CIO, reports & analysis.
Recent comments