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For its second purchase in less than a week, EMC Corp. said it plans to buy network attached storage (NAS) company Isilon Systems Inc. of Seattle for approximately $2.25 billion.
Hopkinton-based EMC (NYSE: EMC) will pay $33.85 per share in cash in exchange for each share of Isilon (Nasdaq: ISLN) in a deal that already has unanimous approval of both companies’ boards. Isilon specifically focuses on “Scale-out NAS,” an easily scalable system that can expand up to 10 petabytes in size.
EMC says it will team Isilon’s product with its own Atmos object storage product and target pair to the rapidly growing need for scalable storage in cloud environments. According to EMC officials, the combined revenue of the two storage offerings is expected to reach a $1 billion run-rate during the second half of 2012.
The deal is expected to close by the end of the year, according to EMC.
Last Wednesday, EMC reported it had acquired Bedford-based storage virtualization firm Bus-Tech Inc., which will join EMC’s Backup Recovery Systems division. EMC said it has been collaborating with Bus-Tech since 2004, and that the company’s technology will complement EMC’s disk library and deduplication storage systems. Terms of the acquisition were not disclosed.
In July, EMC reported plans to acquire California-based cloud computing software firm Greenplum Inc., a privately held provider of data warehousing technology, in an all-cash deal the terms of which were not disclosed.
For additional background on the deal, read the Seattle perspective from MHT's associated website TechFlash, Seattle's technology news source.
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