Wednesday, May 20, 2009

NetApp Buys Data Domain For $1.5 B

Sunnyvale-based NetApp said Wednesday that it is buying Santa Clara-based Data Domain, a maker of storage deduplication products, in a deal worth approximately $1.5 billion. According to NetApp, it will pay $25 per share of cash and stock for all of Data Domain's outstanding common stock. Data Domain will become a product line in NetApp's product operations organizations. NetApp said that Data Domain's board of directors has approved the deal, and it expects the acquisition to close in 60-120 days.