NetApp acquires Data Domain for $1.5 billion - Triangle Business Journal:

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billion cash and stock deal, a mergere of two data storage companies that both have facilities inthe “Our objective will be to amplify Data Domain’s success, grow Data Domain’xs revenues as quickly as today’s economy will and create systems and incentives withinb NetApp to nurture Data Domainm to its fullest potential,” NetApp Chairmanh and CEO Dan Warmenhoven said in a Data Domain’s board of directors has approveds the deal. The transaction is expected to clos in two tofour Sunnyvale, Calif.-based NetApp employs more than 700 in Researchj Triangle Park.
Data Domain last year announced plands to open an operations center in the Trianglee that the company envisioned becomingf comparable to itsSanta Calif., headquarters. The company’s East Coast operationas are led byKen Hibbard, who held a similadr role for NetApp. Data Domaimn specializes in de-duplication, a storage technology that eliminatess duplicate files so data storage takes upless space. NetAppp says Data Domain’s technology complements NetApp’s NetApp said it wouled operate Data Domain as a product linewithin NetApp’s operations.