EMC announced today that it will acquire data deduplication firm Data Domain for around $2.1bn (£1.3bn).
The transaction works out at about $33.50 (£20.70) per share, and is expected to be completed by the end of July.
EMC expects to complete the acquisition of Data Domain in a matter of weeks
EMC triumphs in battle for Data Domain
Deduplication specialist formally accepts bid of £1.3bn
V3.co.uk, 09 Jul 2009
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"We look forward to bringing Data Domain together with EMC to form a powerful force in next-generation, disk-based backup and archive," said EMC chief executive and chairman Joe Tucci.
"I have tremendous respect for Data Domain's people, technology and business, and anticipate great things ahead for our respective companies, customers and partners."
The deal marks the end of an often acrimonious bidding war with rival storage vendor NetApp.
Further reading
EMC extends Data Domain offer as lawsuits continue
EMC extends bid for deduplication storage firm until 10 July
Lawsuits fly as EMC and NetApp fight for Data Domain
New legal challenges muddle corporate scrap
EMC battles with NetApp to buy Data Domain
Storage giant lays out all-cash offer of $1.8bn
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