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NetApp renews acquisition deal with Data Domain

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CIOL Bureau
New Update

MUMBAI, INDIA: NetApp and Data Domain today announced that they have entered into a revised acquisition agreement under which NetApp would acquire all of the outstanding shares of Data Domain common stock for $30 per share in cash and stock in a transaction valued at approximately $1.9B, net of Data Domain’s cash.

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“We are excited about this great opportunity for NetApp and Data Domain,” said Dan Warmenhoven, chairman and CEO of NetApp.

“The synergies between our two companies will enable us to accelerate growth and market adoption more so than as separate entities. This partnership will create meaningful benefits for our global customers,” he added.

Frank Slootman, president and CEO of Data Domain said, “We are pleased with the revised terms of NetApp’s acquisition offer and feel it will provide great value to our shareholders and customers,”

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