Wednesday, June 3, 2009

NetApp Bumps Offer For Data Domain

Sunnyvale-based NetApp has boosted its offer for Santa Clara-based Data Domain, saying Wednesday afternoon that it has revised its agreement to acquire Data Domain to $30 per share in cash and stock, or approximately $1.9 billion. The increased offer follows a similar offer by EMC on Monday. According to a statement from Data Domain, the firm is "pleased with the revised terms" of the offer. The offer is significantly larger than the original, $1.5 billion offer to acquire Data Domain by NetApp, originally announced on May 20th.