EMC continues the battle for Data Domain with new bid of $2.1 billion |
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By Megan Kellett
08 Jul 2009 | SearchDataBackup.com |
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The bidding war between EMC and NetApp over Data Domain continued this week as EMC raised the bid to a solid cash offer of $2.1 billion.
NetApp originally placed an offer to buy Data Domain at $1.5 billion in cash and stock on May 20. EMC challenged that offer on June 1, raising the bid to a net worth of $1.8 billion. NetApp raised the bid yet again the next day with a net worth of $1.9 billion. And finally, this week, EMC challenged NetApp once again in the latest bid of $2.1 billion. Included in their offer, EMC will remove a $57 million breakup fee that Data Domain will have to pay NetApp if the deal falls through. And although Data Domain has been leaning towards NetApp in all of their offers, EMC will not step down in this battle.
Beth Pariseau, senior news writer for SearchStorage.com, and Curtis Preston, executive editor at TechTarget and backup expert, discuss the recent bidding war between EMC and NetApp in this podcast.
More on the EMC-NetApp-Data Domain bidding war and data deduplication:
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