The Inquisitr » netapp http://www.inquisitr.com The Better Mix Tue, 14 Feb 2012 19:44:36 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 NetApp to acquire Data Domain for $1.5 billion http://www.inquisitr.com/24368/netapp-to-acquire-data-domain-for-15-billion/ http://www.inquisitr.com/24368/netapp-to-acquire-data-domain-for-15-billion/#comments Thu, 21 May 2009 00:03:56 +0000 Duncan Riley http://www.inquisitr.com/?p=24368 NetApp has announced that they have entered into an agreement to acquire deduplication storage systems provider Data Domain for $1.5 billion. NetApp said in a statement that the acquisition of Data Domain offers a complementary product line suited for multi-vendor environments where customers want to minimize their use of tape for backup. Data Domain’s deduplication [...]

NetApp to acquire Data Domain for $1.5 billion is a post from: The Inquisitr




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NetApp has announced that they have entered into an agreement to acquire deduplication storage systems provider Data Domain for $1.5 billion.

NetApp said in a statement that the acquisition of Data Domain offers a complementary product line suited for multi-vendor environments where customers want to minimize their use of tape for backup.

Data Domain’s deduplication storage systems offer simplified data management and reduced costs for customers by reducing the amount of disk storage needed to retain and protect enterprise data. The company claims that its technology can produce a storage footprint that is 10x-30x smaller, on average, than the original data set.

The $1.5 billion acquisition price includes acquisition of Data Domain shares (NASDAQ:DDUP) at $25, a strong premium over their closing price Wednesday of $17.91 a share.

NetApp

Data Domain

NetApp to acquire Data Domain for $1.5 billion is a post from: The Inquisitr

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