Page 2 of 2
EMC's $2.25 billion bid for Isilon represents a 29 percent premium over Isilon's Friday closing share price. The acquisition is expected to close by year-end.
EMC has already invested a total of over $13 billion on over 50 strategic acquisitions, the company said.
The company most recently acquired data warehouse technology provider Greenplum. Greenplum is the developer of what it calls "Enterprise Data Cloud" solutions for large-scale data warehousing and analytics. Those solutions, based on a massively parallel processing system, support the data warehousing and large scale analytic processing requirements of companies managing terabytes or petabytes of data.
Pat Gelsinger, president and COO for EMC Information Infrastructure Products, said in a statement that the acquisition will enable EMC to accelerate its storage revenue growth and broaden its ability to serve storage customers.
"EMC will invest in all aspects of Isilon’s business to accelerate growth and take advantage of the fast-growing market opportunity ahead," Gelsinger said.