|
|
|
03 Jun 2009
NetApp does not intend to let Data Domain go without a fight, as it has upped its offer for the data de-duplication vendor to $1.9bn (£1.2bn).
Outbidding EMC, which yesterday made a surprise $1.8bn all-cash offer for the firm, NetApp’s new bid has been raised from its $1.5bn opening offer.
In a revised letter of offer to Data Domain’s chairman of the board of directors, NetApp proposed a revised transaction between the vendors which would offer Data Domain’s stockholders "a superior combination of risk-adjusted value and transaction certainty than EMC’s unsolicited acquisition proposal".
Further reading
The letter continued: “Unlike a combination of Data Domain and EMC, which has substantial product overlap and which we believe will face significant regulatory challenges, a combination of Data Domain and NetApp has no meaningful regulatory risk.”
Dan Warmenhoven, chairman and chief executive of NetApp, said: “Our strategic rationale remains the same and we firmly believe that the combination of our two companies will provide a greater opportunity and risk-adjusted value for Data Domain shareholders, customers, and partners.
“The complementary nature of the Data Domain and NetApp product lines will result in higher aggregate growth compared to the redundancies that would result with the EMC product line.”
Warmenhoven said NetApp is as committed to the partnership now as it was when it first announced its intent to acquire Data Domain.
Related articles
In this video find out about the fast-growing Chinese vendor's plans for market domination and how the channel is its route of choice
Find out what gifts Acer has in store for partners for 2012 in this exclusive roundup of its recent conference
CRN's premier networking event is back on 17 May at the Ricoh Arena
Date: Thu 17 May 2012
Channel fighters preparing to square up once more on 24 May
Date: Thu 24 May 2012
The proliferation of endpoint devices within the enterprise has highlighted the shortcomings of one of the traditional approaches to data security
This Forrester report compares the costs and benefits of legacy email and productivity software with Google Apps
Dave discovers that rozzers are seemingly living in the technology dark ages
Mark Needham, founder of distributor Widget, argues that John Browett leaves for Apple with Dixons in better shape than when he arrived
|
|
|
Do you agree?
Have your say