EMC to buy Isilon Systems for USD 2.25 bn

NEW YORK: Enterprise software manufacturer EMC has said it will acquire Isilon Systems Inc, a firm that makes low-cost systems for storing large amounts of information, for USD 2.25 billion.

Under the terms of the agreement, EMC will pay USD 33.85 per share in cash for each share of Isilon for an aggregate purchase price of about USD 2.25 billion.

EMC, which has a significant presence in India, said that the buyout of Isilon, a network-attached storage (NAS) systems company, will help it to offer customers a highly scalable, low-cost storage infrastructure for managing 'big data' in private or public cloud environments.

Isilon's serves to clients in the field of life sciences, media and entertainment, and oil and gas.

"I am most excited about Isilon's ability to now leverage EMC's unparalleled market reach and portfolio of leading technology assets to build on our already significant success in this fast-growing space.

"Together, Isilon and EMC are ideally positioned to take our company to the next level and accelerate Isilon's growth and technology adoption by customers around the world," Isilon CEO Sujal Patel said.

EMC said that the combined revenue of the two storage systems will reach USD 1 billion in the second half of 2012.

The transaction, which is subject to customary approvals, is expected to be completed late this year.

"Isilon will enable EMC to accelerate our storage revenue growth and serve our customers across a broader range of the storage systems market,"EMC Information Infrastructure Products President and COO Pat Gelsinger said.