EMC announced Monday it is buying NAS (network-attached storage) vendor Isilon Systems for roughly US$2.25 billion. Both companies' boards have approved the deal, which is expected to be finalized later this year.
Isilon and EMC's products combined will provide a low-cost, scalable platform for managing large amounts of "Big Data," an industry term referring to the flood information generated by utilities, online media companies and other verticals, according to a statement.
Executives are expected to discuss the deal on a conference call Monday morning.
(More to follow.)
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