EMC ups ante for Data Domain; news headlines |
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By Barbara Darrow, Senior News Director
07 Jul 2009 | SearchITChannel.com |
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EMC raises its bid on Data Domain
On Monday, EMC Corp. increased its offer for Data Domain Inc. to $33.50 per share or $2.1 billion, outbidding NetApp's $1.0 billion.
The new EMC offer will expire July 17, according to SearchStorage.com.
The battle for Data Domain, a data deduplication backup vendor, has raged for more than a month. NetApp initially offered $25 per share in cash (or $1.5 billion ) on May 20. EMC countered an unsolicited cash offer for $30 per share or $1.8 billion on June 1. The next day NetApp responded with a cash-and-stock deal worth $1.9 billion a day later.
EMC's newest offer is good till July 17, according to SearchStorage.com.
Adobe shuts down for a week
Adobe Systems Inc. closed its North American offices for this week to save money.
The company told various news outlets that the shutdown -- it had another in April and will shutter for another week later this year -- are an attempt to control costs as the recession continues.
The San Jose-based company did not say how many employees are affected but did say workers were asked to use paid vacation days. Adobe also shuts down for the week between Christmas and the new year.
Check out last week's IT channel news.
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