Friday, September 15, 2006
A major acquisition by a Globe West company is nearing completion.
RSA Security Inc., a provider of security software and hardware for networks, said today that its shareholders approved the company's $2.1 billion takeover by Hopkinton-based data-storage equipment provider EMC Corp.
The acquisition is expected to be complete within two business days. In late June, EMC Corp. said it would acquire RSA for $28 per share.
EMC began amassing companies three years ago to speed its shift from primarily a data-storage hardware vendor to being a multifaceted information manager. Including the RSA deal, which is the largest so far, EMC has spent $7 billion over the past three years on acquisitions.
Based in Bedford, Mass., RSA Security has roughly 220 employees and posted 2005 net income of $42.4 million on revenue of $310.1 million. EMC, with 500 workers, reported 2005 profit of $1.13 billion on sales of $9.66 billion.