EMC announced today that it will acquire data deduplication firm Data Domain for around US$2.1bn ($2.68bn).
The transaction works out at about US$33.50 per share, and is expected to be completed by the end of July.
"We look forward to bringing Data Domain together with EMC to form a powerful force in next-generation, disk-based backup and archive," said EMC chief executive and chairman Joe Tucci.
"I have tremendous respect for Data Domain's people, technology and business, and anticipate great things ahead for our respective companies, customers and partners."
The deal marks the end of an often acrimonious bidding war with rival storage vendor NetApp.
_(22).jpg&h=140&w=231&c=1&s=0)
_(23).jpg&h=140&w=231&c=1&s=0)
_(26).jpg&w=100&c=1&s=0)
iTnews Executive Retreat - Security Leaders Edition
_(1).jpg&h=140&w=231&c=1&s=0)
