Brief: EMC acquires Network Intelligence for $175M
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EMC announced it will buy Network Intelligence, which produces security event management hardware and software.
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EMC Corp. of Hopkinton is selling a $218.5 million stake in its VMware Inc. software subsidiary to chip maker Intel Corp. The move comes as EMC prepares to raise up to $949 million by selling about 10 percent of VMware to the public.
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EMC Corp.'s third-quarter profit jumped 77 percent, driven by growing sales of data storage software and hardware as well as a hefty gain from selling an ownership stake in fast-growing software maker VMware Inc.
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EMC announced its intentions to acquire publicly held Document Sciences for approximately $85 million in cash. Document Sciences provides enterprises with software for creating and delivering personalized, multichannel communications to customers, partners, and suppliers.
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Storage company EMC has agreed to buy Document Sciences, a developer of software for personalizing mailshots and other communications. The acquisition will allow EMC to extend its offering in the field of transactional content management, which it sees as the fastest-growing part of the enterprise content management market. It plans to incorporate Document Sciences into its content management and archiving division.Using xPression, Document Sciences&#39; flagship application, companies can automate the creation and delivery of personalized communications such as brochures and contracts. The data can be drawn from CRM (customer relationship management), ECM (enterprise content management) and ERP (enterprise resource planning) systems, it said.Automating the processes can save companies money or speed deals along, Document Sciences said. It has more than 500 customers using its software, it said.Document Sciences and EMC have been partners since 2004, when Document Sciences signed an agreement to integrate its xPression software with EMC&#39;s Documentum platform.Acquiring Document Sciences will allow EMC to further its goal of delivering systems for handling business problems end to end, it said.The xPression software could be useful for companies building transaction-intensive consumer financial applications such as new account enrollment, wealth management, brokerage and claims processing.The acquisition, for $85 million in cash, already has the approval of the companies&#39; boards of directors. Subject to customary closing conditions, including the approval of regulators and Document Sciences&#39; shareholders, the companies expect to close the deal by the end of March.EMC went on a buying spree in 2003, buying Legato and&#160;Documentum&#160;and has added around 20 companies since then, including security and encryption company&#160;RSA Security, virtualization specialist&#160;Rainfinity, and other companies such as Acartus,&#160;Captiva,&#160;and&#160;Internosis.
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EMC (Quote, Chart) is expanding its network-attached storage (NAS) offerings with two new midrange options and a high-end product.
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Storage maker EMC&#39;s profit increased dramatically compared to last year&#39;s third quarter, lifted again by continued growth of its VMware subsidiary and EMC&#39;s recent sale of a slice of the company.Net income for the third quarter ending Sept. 30 was $492.9 million, or $0.23 per diluted share, which was 77 percent more over the same period a year ago, EMC said Thursday. Those figures included the&#160;sale of 6 million shares of VMware to Cisco Systems.Excluding the VMware gain, EMC&#39;s net income was $377.8 million, or $0.18 per diluted share. Analysts predicted $0.17.EMC, which&#160;acquired VMware&#160;in 2004 for $635 million, said in February it would&#160;sell off 10 percent of VMware in an IPO&#160;(initial public offering), which was completed in August. EMC said the money would go toward stock compensation for its employees as well as boost the stock price. Intel now also owns a stake in VMware.VMware maintains a huge, 85 percent market share for virtualization software, which allows multiple operating systems to run on one piece of hardware.The technology remains a hot area, since&#160;virtualization enables servers to perform at a higher level, reducing the need for more servers. EMC, which has retained a majority stake in VMware, said third quarter revenue came in at $354 million, 90 percent higher than for the same quarter a year ago.EMC said its Information Storage business reported 8 percent higher revenue, backed by sales of its Clariion and Celerra networked storage systems plus other backup and recovery products.RSA, EMC&#39;s security business, saw revenue grow 22 percent over a year prior. Those gains were attributed to RSA&#39;s authentication business, consumer applications, and event management business.&#160;
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VMWare sales up 89 percent Brisk corporate spending on storage devices lifted EMC's second-quarter profit by 20 percent and caused the company to boost - slightly - its estimate for the year. But investors drove down EMC shares, proving that sometimes good isn't good enough.â¦
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- Data storage company EMC Corp.'s  subsidiary, VMware, said it expects its initial public offering to be priced between $23 and $25 per share.
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EMC Corp.'s fourth-quarter profit jumped 35 percent, beating Wall Street expectations, as the seller of data storage hardware and software posted double-digit percentage gains across all its major business segments.
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&quot;The acquisition is about market expansion, innovative technology and growth,&quot; Joe Tucci, chief executive of Hopkinton, Massachusetts-based EMC, said in a statement as EMC snapped up network systems management company Smarts Inc, for $260 million.
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EMC Corp.  is working on security  products that would work with VMware Inc  software, EMC  Executive Vice President Arthur Coviello said on Thursday.
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Storage company EMC will acquire enterprise content management software developer Document Sciences.
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roundup Plus: BMC looks to simplify network operations...Data center firms settle cookie suit...nStor sells off telecoms management unit...Nortel lowers expectations.
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InfoWorld - EMC has made its biggest push to date into the fast growing small and midsize business market with the acquisition of Dantz Development, a suppler of backup and recovery software.
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EMC has made yet another software acquisition, picking up Dantz Development Corp. today for help in the backup market. Dantz is the 15th software maker EMC has picked up since 2000, along with big names such as VMware and Legato.
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Plus: AT&#38;T posts $7.1 billion loss...Lucent sees first profitable year since 2000...EMC issues sunny report...IBM net income inches higher, despite legal bill.