EMC extends deadline for its Data Domain bid

EMC has extended from June 29 to July 10 the deadline on its $US1.8 billion offer to purchase all outstanding shares of storage backup vendor Data Domain, in an effort to entice Data Domain to abandon a deal with NetApp.

Data Domain, in late May, had agreed to be acquired by NetApp for $US1.5 billion, but EMC made its $US1.8 billion on June 1. NetApp then boosted its offer, and Data Domain said both bids are worth about $US30 per share.

On June 15, Data Domain's board of directors recommended that the company's shareholders reject the EMC offer, saying that backing out of the NetApp deal could leave the company without a buyer. Data Domain had not been able to negotiate with EMC with the NetApp offer on the table, and the EMC offer could still fall through, the board said.

EMC's offer remains the better one because it's an all-cash offer, not a cash and stock deal, Joe Tucci, EMC's chairman, president and CEO said in a statement. The EMC offer "delivers to Data Domain stockholders the price certainty and price protection its management team and board stated as important priorities during their negotiations with NetApp," he said in a Friday statement.

Data Domain had no further comment Monday.

Data Domain makes enterprise backup products and has been a pioneer in data deduplication, a technology for reducing capacity requirements that most storage companies are now using.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags emcnetappdata domain

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments

Father’s Day Gift Guide

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?