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EMC wins battle for Data Domain as NetApp drops out of bidding
A bidding war over data storage company Data Domain is over, with EMC emerging as the victor.
Data Domain said Wednesday that it has agreed to be acquired by EMC Corp. for $33.50 a share in cash.
The company has ended its agreement to be acquired by NetApp and paid a $57 million breakup fee.
NetApp said it has decided not to revise its buyout offer of $30 a share in cash and stock for Data Domain.
Data Domain's storage systems dramatically cut down on the amount of disk storage needed to retain business data by identifying redundant files as they are being stored. NetApp and EMC make products that store data.
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