EMC to Acquire Avamar Technologies November 1, 2006Posted by lsvp in Infrastructure.
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HOPKINTON, Mass. – November 1, 2006 – EMC Corporation, the world leader in information management and storage, today announced the signing of a definitive agreement to acquire privately-held Avamar Technologies, Inc., a fast-growing provider of enterprise-class data protection software featuring industry-leading data de-duplication technology. EMC will acquire the Irvine, California-based company in a cash transaction valued at approximately $165 million. The acquisition is expected to be completed within 30 days and is not expected to have a material impact on EMC’s revenue or EPS for 2006.
Winner of this year’s Storage magazine “Product of the Year” award for best backup and recovery software, Avamar advances EMC’s core strengths in information protection and recovery management, radically changing the way customers protect their data and accelerating the widespread move from tape to disk-based recovery solutions.
See the full press release here.