Brief: EMC Adds Security With $2 Billion Acquisition Of RSA
EMC plans to use RSA to transform itself from a company providing storage management to a company providing overall information management, of which security is a part.
EMC dug deep in its pockets Thursday to expand its scope by acquiring RSA Security for about $2.1 billion.
The deal will provide EMC with an expanding base in its attempts to become a full-featured information management company.
According to terms of the deal, EMC will pay $28 per share in cash in exchange for each share of RAS and the assumption of outstanding options, for a total purchase price of about $2.1 billion. The deal is expected to close in the late third quarter or early fourth quarter.
Upon completion of the acquisition, RSA will operate as EMC's Information Security Division, and will be headquartered in Bedford, Mass. Art Coviello, CEO and president of RSA, will become an executive VP of EMC and president of the new division.
EMC has been on acquisition binge, having announced three acquisitions in June and six in the past two months.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.