Wednesday, November 1, 2006

EMC Buys Avamar Technologies

Massachusetts-based storage leader EMC Corp. said this morning that it is buying Irvine-based Avamar Technologies, a provider of backup and de-duplication software, for $165M. EMC said that the all-cash deal is expected to be complete within 30 days. Avamar develops disk-based backup technology used to protect corporate data. Avamar has received more than $55M in venture capital from Benchmark Capital, CMGI@Ventures, Goldman Sachs, Lightspeed Ventures, and Morgan Stanley.

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