Mergers and Acquistions News
Categories: Media & Information Services, IT Services & Consulting
July 20th 2009, 16:49PM
Information infrastructure solutions firm EMC Corporation has announced the acquisition of the majority ownership of Data Domain.
After proposing an offer worth a 20 per cent premium in comparison to the deal proposed by NetApp in May, EMC now expects to make Data Domain the foundation of a new product division within EMC's storage business.
The new division will be led by Data Domain's president and chief executive officer Frank Slootman and EMC has announced plans to increase investment, resources and technologies within the division.
Mr Slootman commented: "We are pleased to see the merger with EMC becoming a reality.
"We envision great opportunity to accelerate our business through EMC's massive worldwide distribution network and customer base, and we can't wait to begin seeing that play out in the marketplace."
EMC was recently positioned in the "leaders" quadrant in Gartner's 2009 analyst report on storage resource management software.
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