NetApp Outbids EMC for DDUP
Wade Roush6/3/09
Data Domain (NASDAQ: DDUP) shareholders must be flying high this week. Today Sunnyvale, CA-based storage company NetApp (NASDAQ: NTAP) announced that it has increased its bid for Santa Clara, CA-based deduplication software provider Data Domain to some $1.9 billion in an effort to fend off EMC’s (NYSE: EMC) $1.8 billion offer, tendered Monday night. NetApp is offering Data Domain sharedholders the same price per share as Hopkinton, MA-based EMC—$30—but said that the deal is worth slightly more than EMC’s offer due to “certain adjustments.” In a reference to the EMC offer, NetApp chairman and CEO Dan Warmenhoven said, “The complementary nature of the Data Domain and NetApp product lines will result in higher aggregate growth compared to the redundancies that would result with the EMC product line.”
Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.
