Legato Systems Inc., a developer of enterprise storage management software, is acquiring OTG Software in a deal valued at $403 million. OTG develops data storage, data access and e-mail management applications. The companies expect the deal to close by the end of the second quarter.

"This acquisition will improve our current ability to provide our customers with scalable and secure management applications solutions available in the market today," says David B. Wright, chairman, president and chief executive officer of Legato. "OTG gives us additional software assets and intellectual capital required to address the growing demand for open, integrated solutions from one source."

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