NetApp acquires Data Domain for $1.5 billion

SAN FRANCISCO (MarketWatch) — NetApp said Wednesday afternoon that it has struck a deal to acquire Data Domain in a cash-and-stock deal worth $25 a share, or $1.5 billion, excluding the value of Data Domain’s cash on hand. The acquisition price represents a premium of 40% to Data Domain’s closing price Wednesday. In a statement, NetApp said it intends to operate Data Domain as a product line within NetApp’s product operations organization. The deal is expected to close within 2-4 months.