NetApp to Buy Data Domain for $1.5B

Storage vendor NetApp said today it will buy Data Domain, a de-duplication firm, in a cash-and-stock deal valued at $25 a share, or $1.5 billion net of Data Domain’s cash. The deal will give NetApp more tools to offer customers in their attempts to stay ahead of the ever increasing amount of data created and subsequently stored. De-duplication, a process where only new files are stored at each backup, is a way to hasten backups and reduce the amount of information transferred and then stored. The buy also augments NetApp’s product line that focuses on disk-based storage rather than tape backups.

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