EMC May Have to Fight NetApp For This Deal
EMC Corp. (NYSE:EMC) is close to buying the Israel-based storage solutions company Xtremio, but may first face a bidding war with NetApp Inc. (NASDAQ:NTAP), according to reports from Israeli news source Globes.
Executives from both companies — including EMC Chief Financial Officer David Goulden and NetApp’s head of mergers and acquisitions — have made visits to Israel recently, according to Globes. Xtremio recently raised $25 million and is developing a scale-out all-flash array with peer-to-peer nodes that is intended for use in database consolidation, high-performance computing, and server and desktop visualization.
According to Globes, the deal could be priced between $400 million and $450 million. If the deal goes through, it would likely be announced at EMC World, which will take place May 21 through May 24 in Las Vegas.