domains

EMC has proven tenacious in trying to outbid NetApp in the battle to buy Data Domain. But NetApp isn't going down without a fight.

After Monday's announcement that EMC had upped its offer for Data Domain to $33.50 a share, NetApp countered with two responses, the first noncommittal but the second quite clear.

The first word from NetApp:

"In response to EMC's revised, unsolicited offer, the NetApp Board of Directors will carefully weigh its options, keeping in mind both its fiduciary duty to its stockholders and its disciplined acquisition strategy," Dan Warmenhoven, chairman and … Read more

The stakes have been raised yet again in the ongoing saga to acquire storage vendor Data Domain.

EMC announced Monday that it has upped its bid for Data Domain to $33.50 per share in cash, a deal worth about $2.1 billion. The company said its all-cash offer is "clearly superior" to NetApp's proposal of $30 per share in cash and stock.

In a letter to Data Domain Chairman Aneel Bhusri, EMC further strengthened its claim by stating that it has removed all deal-protection provisions from the offer as a way of maximizing value for Data … Read more

The corporate soap opera between Data Domain and potential suitors NetApp and EMC has a new episode.

Two law firms have launched class action suits against the board of Data Domain, alleging that the process used to accept NetApp's offer may not have been fair and open.

Attorneys at Bernstein Litowitz Berger & Grossmann filed suit in Delaware on June 12 on behalf of the Police and Fire Retirement System of the city of Detroit and "similarly situated shareholders of Data Domain," according to the firm's press release.

The suit contends that Data Domain's board … Read more

The servers didn't crash, the system didn't go haywire, and no locusts started spewing out of anyone's monitors when Facebook let its 200-million-plus members reserve customized URLs on Saturday at 12:01 AM Eastern. 200,000 user names were reserved in a matter of three minutes, according to Twitter posts from Facebook employees.

"Well, that was anti-climactic. Worked, no bugs, and I got my name," someone told me in an instant message. "Was exciting for a hot second though!"

I did notice some Facebook pages loading more slowly than usual. After all, the … Read more

Much drama has ensued since NetApp announced the intended acquisition of Data Domain on May 20 for the whopping sum of $1.5 billion.

EMC countered with a $30-per-share offer valued at $1.8 billion. NetApp then raised its offer to $30 a share, valued at $1.9 billion. Data Domain essentially said, "Thank you, EMC, but we like the new NetApp offer more than yours." EMC then claimed that it had been unfairly shut out of the bidding process and appealed directly to Data Domain employees.

NetApp countered with a claim that EMC's potential acquisition of … Read more

Facebook's 200-plus million members will be able to customize the URLs to their profiles starting at midnight Eastern on Saturday, according to a post on the Facebook blog. Currently, users' profile URLs have been structured as a string of numbers. At least for now, it doesn't look like the switch is mandatory.

This is a move that will help Facebook profiles get better traction in search engines, potentially upping traffic--and give people-search sites a run for their money in the process. For brands whose "fan pages" are a crucial part of Facebook's marketing and advertising … Read more

The disk storage market is the latest casualty of the recession. Worldwide sales for storage vendors in the first quarter of 2009 dropped 18.2 percent to $5.6 billion from $6.8 billion a year ago, according to a report from research firm IDC.

The market includes vendors such as IBM, Hewlett-Packard, and Dell, which sell complete disk storage systems to enterprise customers. IDC blamed the decline on the overall downturn in total server sales.

Among the top five vendors, HP fared the worst, hit with a 25.8 percent drop in sales to $975 million from $1.3 … Read more

The battle to buy Data Domain is in full swing.

Late Wednesday, NetApp upped its bid to acquire Data Domain to $30 a share after EMC jumped in earlier in the week with its own buyout offer. On the surface, both proposals seem similar. But EMC claims its bid is superior and predicts Data Domain shareholders won't approve the NetApp agreement.

The initial buyout agreement between NetApp and Data Domain was unveiled on May 20. NetApp's offer then was $25 a share, or $1.5 billion total, a deal that seemed to sit well with Data Domain. But … Read more

This was originally posted on ZDNet's Between the Lines.

EMC swooped in Monday with a $1.8 billion, or $30 a share, offer for Data Domain.

The rub: rival NetApp already had a plan to buy the Santa Clara, Calif.-based company for $1.5 billion, or $25 a share.

EMC said its all-cash offer is a 20 percent premium over NetApp's stock-and-cash offer on May 20.

Simply put, EMC wants to acquire Data Domain in order to thwart NetApp's offer--or at the very least make the acquisition more expensive. Joe Tucci, EMC's chief executive, said … Read more