EMC set to buy its smaller rival Isilon in $2.3bn deal

first_img EMC, the biggest maker of corporate data storage equipment, plans to buy smaller rival Isilon Systems for $2.25bn (£1.4bn) as consolidation in the technology sector gains steam.EMC’s $33.85-a-share cash offer for Isilon, announced by both companies yesterday, represents a 29 per cent premium over Isilon’s closing share price on Friday. Isilon shares were at $33.77 in afternoon Nasdaq trade, just eight cents shy of the offer price.The growing popularity of online video from media companies, and new software from industries like life sciences, particularly related to gene sequencing, are expected to generate exponentially large amounts of data.Data storage companies have been among the hottest targets in the recent round of consolidation as they play a crucial role in “cloud computing” – the use of technology to access remote computing power and data over the Internet. KCS-content whatsapp Show Comments ▼ EMC set to buy its smaller rival Isilon in $2.3bn deal Tags: NULL More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Share whatsapp Monday 15 November 2010 7:56 pmlast_img

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