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Wednesday, November 1, 2006

EMC makes another acquisition


Data storage provider EMC Corp. said today it agreed to pay $165 million in cash to acquire Avamar Technologies Inc., the latest in a string of deals to bolster EMC's information security and data backup offerings.

The purchase of Irvine, Calif.-based Avamar is the 12th acquisition by EMC this year, for a total investment of $2.8 billion to help move the 31,000-employee company beyond its core storage hardware business into faster-growing data storage software and services.

-- AP

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