The Bidding War For Data Domain Continues
NetApp and EMC Corporation both want Data Domain pretty badly. A couple of days ago, EMC outbid NetApp for Data Domain by a couple hundred million dollars. NetApp today announced that they have submitted another bid at $30 per share ($1.8 billion). NetApp’s previous offer was $25 per share ($1.5 billion total).
EMC’s offer is $30 per share as well. However EMC claims that their deal is better because it is not subject to the same limits and conditions as NetApp’s deal. EMC said that they want to buy Data Domain because of their strong management and sales teams to back up their own storage team.
NetApp’s offer is subject to closing in 60-110 days and EMC’s offer will expire on June 29, unless there is an extension. Regardless of who picks up the company, Data Domain is in a pretty good position as of right now.
[via CNET]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry