EMC Corporation today announced that it has entered into a definitive agreement with Data Domain, Inc. , a leading provider of deduplication storage solutions, under which EMC will acquire Data Domain in a cash tender offer for $33.50 per share. The transaction is expected to have a total enterprise value of approximately $2.1 billion, net of Data Domain’s cash.

EMC’s all-cash tender offer commenced on June 2 and is scheduled to expire at 12:00 midnight Eastern Daylight Time on July 17, 2009, subject to customary tender offer conditions being satisfied.  EMC also announced today that the condition to its tender offer related to the termination of the NetApp merger agreement has been satisfied.

The acquisition is expected to be neutral to EMC’s non-GAAP earnings per share in its fiscal year 2009 and accretive to its non-GAAP earnings per share in fiscal year 2010. 

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