EMC to Buy Network Intelligence for $175 MillionBy Scott Ferguson | Posted 09-18-2006
Storage giant EMC announced Sept. 18 that it has agreed to purchase Network Intelligence for $175 million, and it has also completed its $2.1 billion acquisition of RSA Security.
Hopkinton, Mass.-based EMC, now the sixth largest software company in the world, has been on a buying spree lately.
In addition to RSA and Network Intelligence, the company has picked up Interlink Group, nLayers, and ProActivity in just the past few months.
Although some analysts have questioned the value of the $2.1 billion$28-per-sharepurchase of RSA, the move was expected to help EMC by offering better security for its storage solutions.
The RSA board on Sept. 14 gave its final approval for the acquisition. The new EMC security division will continue under the RSA name. Art Coviello, the former RSA CEO, will head the division. Coviello is now the executive vice president at EMC and president of RSA, and he will report directly to EMC Chairman Joe Tucci.
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