NetApp to Acquire Data Domain for $1.5 Billion
Storage vendor NetApp has agreed to acquire Data Domain, a maker of disk-based backup products, for about US$1.5 billion, the companies announced Wednesday.
NetApp will buy all outstanding shares of Data Domain for $25 per share in cash and stock. The deal has been approved by Data Domain's board of directors and is expected to close within 120 days following the customary approvals, the companies said.
Data Domain will become a product line within NetApp and the companies' sales organizations will be integrated. NetApp's global sales, support and partner network of NetApp will extend the reach of Data Domain's products, the companies said.