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Business Briefing / Acquisitions

EMC wins bid for Data Domain

July 09, 2009|TIMES WIRE REPORTS

A bidding war over data storage company Data Domain is over, with EMC emerging as the victor.

Data Domain Inc. said it had agreed to be acquired by EMC Corp. for $33.50 a share in cash, about $2.1 billion. The company ended its agreement to be acquired by NetApp Inc. and paid a $57-million breakup fee.

NetApp said it had decided not to revise its buyout offer of $30 a share in cash and stock for Data Domain.

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