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 read more

HSBC: London losing to Asia

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBe20 Stunning Female AthletesBetterBeBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tuesday 1 February 2011 9:22 pm KCS-content whatsapp Show Comments ▼ Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proofcenter_img whatsapp Banking there is “quite a noticeable” migration of business from London to Asia, according to HSBC chairman Douglas Flint.Speaking before the House of Commons Treasury committee, he pointed to “three 200,000 square foot buildings being taken by international banks in Singapore at the moment that might have gone somewhere else”.Two of the buildings in question are thought to be a 513,000-square foot building taken by Standard Chartered recently and 250,000-square foot of office space signed by Citi Singapore.Flint added that “business that we would have had” is instead moving to Hong Kong and Singapore, eroding London’s competitive advantage from a “cluster effect” of business in the capital.While affirming HSBC’s current commitment to its London HQ, he warned that the bank will this year conduct one of its three-yearly reviews on whether to re-locate.Any regulatory break-up of banking activities would be a factor in the decision, he said, calling the UK levy on global balance sheets “a tax on being headquartered here”. He added: “We are finding institutional investors routinely meeting to ask us to explain the cost of being in the UK.” Share HSBC: London losing to Asia last_img read more