EMC Corporation, Inc., provider of information storage systems, software, networks and services, announced it has completed the acquisition of LEGATO Systems, Inc., a provider of software solutions and services for information lifecycle management. Under the terms of the definitive agreement announced on July 8th, 2003, EMC issued approximately 106 million shares of EMC common stock for all outstanding shares of LEGATO Systems, Inc., subject to final tabulation with EMC's exchange agent. EMC will operate LEGATO Software as a division of EMC with headquarters in Mountain View, Calif.
"We are thrilled with the speed and efficiency at which we closed this transaction," said Joe Tucci, EMC's president and CEO. "We've spent the last 100 days developing a bulletproof integration playbook and are prepared and excited to move forward as a combined company. The synergies between EMC and LEGATO's products, distribution, people and culture have accelerated our ability to create the ultimate information lifecycle management company. Together, EMC and LEGATO will maximize the value we bring to the market by providing open, heterogeneous software solutions for solving the information management problems plaguing customers today."
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