Bladewatch.com

http://www.channelregister.co.uk/2007/03/26/emc_admits_overspending/

At a media briefing in Sydney, EMC CEO Joe Tucci admitted last week to overspending on the company’s $2.1bn acquisition of RSA.

When pushed on the RSA buy, Tucci said, “Well I probably did (overspend), but what’s the definition of too much?”.
“It’s market value at the time was around $1.6 billion and we paid $500 million more than that, but it was a very competitive bidding process which came down to us and one other party,” said Tucci. The identity of the other party was not revealed.
Market analysts have gagged at the high price tag since the company’s acquisition of RSA last June. Tucci asserts that the splurging for the software security company was worth it. “Time will prove that RSA is a great asset and this was a great acquisition,” said Tucci.

The overspend is done, time to move on, get value for the shareholders, I suspect RSA will pay for itself in the long run, particularly as working from home or remotely comes to live, those secure login systems get in greater demand, their SecureID etc being an example, couple that with data security, and desktop platform security and there are many potential markets/possibilities.

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