Error message

Deprecated function: Creation of dynamic property MergeQuery::$condition is deprecated in MergeQuery->__construct() (line 1357 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).
Deprecated function: Creation of dynamic property DatabaseCondition::$stringVersion is deprecated in DatabaseCondition->compile() (line 1887 of /home/topnewse/public_html/topnewsnl/includes/database/query.inc).

EMC to acquire Data Domain for $2.1bn

Sumeet Kak 18 July 2009

EMC to acquire Data Domain for $2.1bn EMC, a leading storage company has decided to acquire de-duplication storage solutions specialist Data Domain for about $2.1 billion (Dh7.7bn).

The sources said that EMC has entered into a definite pact and will soon acquire Data Domain in a cash tender offer for $33.50 per share. The transaction is expected to have a total enterprise value of approximately $2.1bn, net of Data Domain's cash.

The sources further added that the acquisition is expected to be neutral to EMC's non-Gaap earnings per share in its fiscal year 2009 and accretive to its non-Gaap earnings per share in fiscal year 2010.

Following the completion of the acquisition, which is expected to occur before the end of July, Data Domain will facilitate EMC's pace of expansion and leadership in the fast-growing next-generation disk-based backup and archive market.