EMC wins bidding battle for Data Domain
The battle between the bidders is over as EMC acquires Data Domain for $2.1 billion.


EMC has won the biding war for Data Domain, securing the company for a full cash offer of $2.1 billion (1.3 billion).
In a statement on Data Domain's website, a spokesperson said: "Data Domain's board of directors has unanimously determined that the definitive merger agreement with EMC and the terms of the EMC tender offer are advisable, fair to and in the best interests of Data Domain and its stockholders."
However, the sought-after tech company has had to make a pay out of $57 million to NetApp for ending their agreement, which would have seen the company going for $1.9 billion in a mixture of stocks and cash.
Joe Tucci, president of EMC, said in a statement that the acquisition was "compelling... from both a strategic and financial standpoint."
NetApp made an initial deal with Data Domain back in May to buy the company for $1.5 billion in a mixture of stocks and cash but EMC came in with a full cash offer at the start of June.
Since then, the two companies have fought it out, and although the deal had initially been struck with NetApp, Data Domain went for EMC's larger cash offer.
Dan Warmenhoven, chairman and chief executive of NetApp, said in a statement: "NetApp applies a disciplined approach to acquisitions, one focused intently on creating long-term value for our stockholders. We therefore cannot justify engaging in an increasingly expensive and dilutive bidding war that would diminish the deal's strategic and financial benefits."
Get the ITPro daily newsletter
Sign up today and you will receive a free copy of our Future Focus 2025 report - the leading guidance on AI, cybersecurity and other IT challenges as per 700+ senior executives
The deal between EMC and Data Domain is expected to be completed before the end of July.
Jennifer Scott is a former freelance journalist and currently political reporter for Sky News. She has a varied writing history, having started her career at Dennis Publishing, working in various roles across its business technology titles, including ITPro. Jennifer has specialised in a number of areas over the years and has produced a wealth of content for ITPro, focusing largely on data storage, networking, cloud computing, and telecommunications.
Most recently Jennifer has turned her skills to the political sphere and broadcast journalism, where she has worked for the BBC as a political reporter, before moving to Sky News.
-
The IT industry’s shift to circular, low-carbon solutions
Maximize your hardware investment and reach your sustainability goals with HP’s Renew Solutions
-
Lenovo ThinkPad X9 14 Aura Edition review
Reviews This thin and light ultraportable will draw you in with its vibrant screen – but it isn't as powerful as some of its competitors
-
Dell/EMC merger gives birth to Dell Technologies
News $60 billion deal finally closes, creating new tech behemoth
-
Dell EMC deal will complete next week
News Massive tech merger clears final hurdle as Chinese regulators give their approval
-
New Dell/EMC name revealed at EMC World 2016
News EMC Federation will be called Dell Technologies, but the EMC name is not dead
-
IT departments suffer from reverse skills gap
News IT specialists need to become generalists in order to survive
-
Dell sheds services business ahead of EMC acquisition
News Sale will help fund massive purchase
-
EMC sharpens axe to slash workforce ahead of Dell merger
News Firm creates $250 million fund to pay for layoffs
-
Michael Dell talks up power of private ownership at Dell World
News Commitment to SMBs reaffirmed in light of EMC acquisition as well
-
HP's Meg Whitman savages Dell-EMC merger
News M&A advisors criticise VMware's absence from acquisition