EMC/NetApp recap on Data Domain

*NetApp, EMC battle it out for Data Domain

Unless the EMC-NetApp-Data Domain changes in the past five days, here's what happened in NetApp's efforts to acquire the deduplication vendor.

The pot got sweeter last week as NetApp upped the ante for the acquisition of Data Domain for $1.9 billion in cash and stock. The deal, which Data Domain, accepted trumped EMC's $1.8 billion all cash offer. EMC's original $1.8 billion cash deal remains under consideration at Data Domain.

Apparently last November, Goldman Sachs brokered a meeting between CEO Frank Slootman and NetApp CEO Dan Warmenhoven about a business combination. The two CEOs met again in March – the result being that Data Domain's board would accept an offer from NetApp.

In mid-May, NetApp made a cash and stock offer of $1.5 billion to which Data Domain agreed.

EMC countered the NetApp offer with a $1.8 billion all cash deal. This was apparently after also Data Domain considered a deal with another unidentified party.

NetApp came back to the table with a $1.9 billion cash/stock offer, which Data Domain accepted. Yet there was a wrinkle in the works – Data Domain, despite accepting NetApp's offer, maintained the right to review EMC's offer. At this point (if nothing has changed in the past five days) that's where negotiations stand. Data Domain is in the catbird seat – having two suitors vying for its attention.

Learn more about this topic

Five technology bidding wars preceding EMC vs. NetApp

EMC aims to beat out NetApp with $1.8 billion bid for Data Domain

Trying to outfox EMC, NetApp raises Data Domain offer to $1.9 billion

This story, "EMC/NetApp recap on Data Domain " was originally published by Network World.

  
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