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EMC Corp. (NYSE:EMC) could spend another $3 billion on acquisitions this year, with a focus on acquiring technologies for analyzing large amounts of data, EMC Chief Operating Officer Pat Gelsinger said in an interview with Bloomberg News.
The Hopkinton-based data storage giant spent $3.2 billion on acquisitions in 2010, with the largest being the $2.25 billion purchase of Isilon Systems Inc., a Seattle network attached storage company.
Speaking to Bloomberg, Gelsinger said EMC plans to continue the steady pace of acquisitions as part of its growth into the area of “big data” services — which allow corporate customers to analyze reams of data from the Web, e-mail and other sources.
The company is seeking to diversify its offerings beyond data storage, which provides three-fourths of EMC’s revenue, Gelsinger said. EMC saw revenue of $4.6 billion in the first quarter, while profit reached $477.1 million.
Last week, CEO Joe Tucci said a buyout of EMC by another firm could be possible if that was the desire of shareholders, though he said few companies would be able to afford such a large acquisition.
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