- 论坛徽章:
- 0
|
特大新闻
FOR IMMEDIATE RELEASE
EMC ANNOUNCES PLAN TO ACQUIRE LEGATO, ACCELERATES INFORMATION LIFECYCLE MANAGEMENT SOFTWARE CAPABILITIES
World抯 Most Comprehensive Portfolio of Information Storage Solutions Broadened to Improve Customers?Ability to Access, Manage And Protect Information From Inception To Archive To Disposal
HOPKINTON, Mass. and MOUNTAIN VIEW, Calif., July 8, 2003 -
EMC Corporation and LEGATO Systems, Inc., today announced a definitive agreement for EMC to acquire LEGATO, in a stock transaction valued at approximately $1.3 billion, extending EMC抯 technology and market leadership in storage software. The addition of LEGATO抯 strengths in heterogeneous information protection and recovery, HSM (hierarchical storage management), automated availability, and email and content management will expand EMC抯 market-leading portfolio of open storage software, making it easier for customers to access, manage and protect all of their information. This move underscores EMC抯 commitment to open, heterogeneous storage management, expands EMC抯 capabilities around information access and recovery, and deepens EMC抯 unparalleled storage management expertise and customer service and support.
Joe Tucci, EMC抯 President and CEO, said, "This combination is all about improving the access, management and protection of an organization抯 core asset ?information ?through its complete lifecycle. We抮e combining best-of-breed storage technology, two winning employee populations with similar reputations for customer focus, and two experienced management teams with highly complementary visions for the future of information management. This represents a significant win for both companies?customers, employees, partners and stockholders, accelerating the evolution of EMC as the company that offers the most comprehensive, open and integrated information storage solutions."
The acquisition will accelerate EMC抯 ability to deliver the industry抯 most complete information lifecycle management solutions, helping customers get the maximum value from their information at the lowest total cost at every point in the information lifecycle. Further, LEGATO抯 software-focused sales expertise, extensive channel partner relationships, and strong service capabilities will complement EMC抯 distribution strategy and enhance its ability to serve customers of all sizes around the globe.
David B. Wright, LEGATO抯 Chairman and CEO said, "LEGATO抯 current shareholders, employees, customers, and partners will see tremendous benefits from EMC抯 extensive R&D resources, expertise in networked storage, global distribution and customer reach, and overall financial strength. We will now have additional resources to further accelerate the development and delivery of solutions to the market in order to fulfill our mission of delivering the software and services that protect and manage customer抯 information, assure the availability of their applications and provide immediate access to business-critical information. This begins the next chapter for LEGATO as we expand our capabilities and continue our legacy of innovation."
Under terms of the agreement, LEGATO stockholders will receive 0.9 of a share of EMC common stock for each share of LEGATO common stock. Based upon the EMC closing stock price of $11.74 on July 7, 2003, the transaction is valued at approximately $1.3 billion. The acquisition is subject to customary closing conditions, including LEGATO抯 stockholder and regulatory approvals, and is expected to be completed in the fourth quarter of calendar year 2003. When completed, EMC expects to take an expense charge in the quarter the transaction is closed for the value of LEGATO抯 in-process research and development costs. EMC expects to report a net profit in each quarter in 2003 and expects the transaction to be slightly accretive to fully diluted earnings per share in 2004.
Upon completion of the acquisition, EMC intends to operate LEGATO as a software division of EMC headquartered in Mountain View, California, led by David B. Wright, LEGATO抯 current Chairman and CEO. LEGATO抯 sales, marketing and service will remain focused on selling and servicing LEGATO抯 full line of products and solutions. EMC and LEGATO will integrate engineering and development functions to accelerate the development and delivery of comprehensive storage management solutions for high growth markets such as email management and HSM/archiving.
EMC President and CEO, Joe Tucci, LEGATO Systems, Chairman and CEO, David B. Wright and EMC Executive Vice President and Chief Financial Officer, Bill Teuber, will discuss the acquisition on a conference call for financial analysts, investors and the media at 8:30 a.m. EDT, today. The dial-in numbers are (88 790-1750 (domestic) or (210) 234-8670 (international). The pass code to access the call is EMC. For the general public, the call will be webcast with supporting slides at EMC and LEGATO抯 homepages, www.emc.com and www.legato.com. A replay of the call will be available approximately one hour following the call at (402) 530-7619. |
|
免费注册
发表于 2003-07-08 16:30
发表于 2003-07-08 17:26
