Blade Watch

Data Domain

SANTA CLARA, Calif. — June 15, 2009 — Data Domain, Inc. (NASDAQ:DDUP) today announced that its Board of Directors, after careful consideration with its outside financial advisor and legal counsel, recommends that Data Domain stockholders reject EMC Corporation’s (NYSE:EMC) offer to acquire all of the outstanding shares of Data Domain common stock for $30.00 per share in cash and not tender their shares of common stock to EMC pursuant to EMC’s offer at this time. The basis for the Board’s recommendation is set forth in Data Domain’s Schedule 14D-9 filed today with the Securities and Exchange Commission.

At this time, the Board reaffirms its recommendation that Data Domain’s stockholders vote in favor of the adoption of the revised merger agreement with NetApp, Inc. (NASDAQ:NTAP) that is described in the Registration Statement on Form S-4 that NetApp has filed with the Securities and Exchange Commission. As previously announced, on June 3, 2009, Data Domain and NetApp entered into a revised merger agreement under which NetApp will acquire all of the outstanding shares of Data Domain common stock for a combination of cash and stock. Based on NetApp’s closing stock price on June 12, 2009, the transaction would be valued at $30 per share, or approximately $1.9B, net of Data Domain’s cash.

“Our Board is committed to enhancing stockholder value and, after careful review with our outside advisors, determined that the $30 per share EMC Offer is not in the best interests of our stockholders at this time,” said Frank Slootman, president and CEO of Data Domain. “We are pleased with the revised terms of NetApp’s acquisition offer and feel it will provide great value to our shareholders and customers.”

There’s been a lot in the news about the Data Domain deal involving NetApp and EMC, this is the latest update on the deal and recommendations that the “EMC offer is not in the best interests of our stockholders at this time”, there seems to be positive feedback for the NetApp offer, we’ll have to see where the deal goes and what new organization, products and services arise from this transaction.

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