NetApp Receives SEC Approval to Proceed With Data Domain Acquisition

NetApp announced that the U.S. Securities and Exchange Commission declared NetApp’s Registration Statement for its proposed acquisition of Data Domain effective allowing the transaction to proceed to a stockholder vote. The Data Domain Board of Directors has set a Special Meeting of Data Domain stockholders for August 14, 2009 to consider and vote on the merger. Proxy statements will be mailed to Data Domain’s stockholders of record as of June 17th.

Additionally, on Thursday, July 2 the U.S. Federal Trade Commission (FTC) granted the merger agreement early clearance under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976. This move confirms that the FTC will not conduct any further reviews related to the merger and clears the way for NetApp and Data Domain to close on a timely basis following the approval of the transaction by the Data Domain stockholders.

"We are pleased to have passed these important milestones, which we believe set us on course for a clear and timely path to close," said Dan Warmenhoven, chairman and CEO of NetApp. "We continue to believe that our offer is superior to the unsolicited offer from EMC. Not only does NetApp’s proposal provide Data Domain stockholders with attractive short- and long-term value, our combination creates significant advantages for customers and employees, who will benefit from a lower risk of business disruption, continued competition in the marketplace, enhanced products and services, and the complementary nature of our two businesses." "We look forward to the upcoming Data Domain stockholder vote on August 14 and a quick close of our transaction so that we can get to work realizing the promise of this compelling combination."

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