EMC-RSA Deal To Close Next Week

The $2.1 billion deal is expected to close within two business days, Bedford, Mass.-based RSA said Friday. Shares of RSA traded up 5 cents at $27.96 Friday afternoon following the announcement.

In a special meeting on Thursday, the majority of RSA's stockholders voted to approve the acquisition, the company said.

EMC, Hopkinton, Mass., unveiled its plan to buy RSA for $28 per share, or $2.1 billion, in late June. RSA develops identity and access management products.

The EMC-RSA deal reflects the recent convergence of storage and security technology solutions. Symantec completed its acquisition of Veritas Software in July 2005, and Network Appliance finalized its acquisition of encryption vendor Decru the following month.

Sponsored post