EMC, a leading storage company has decided to acquire de-duplication storage solutions specialist Data Domain for about $2.1 billion (Dh7.7bn).

The sources said that EMC has entered into a definite pact and will soon acquire Data Domain in a cash tender offer for $33.50 per share. The transaction is expected to have a total enterprise value of approximately $2.1bn, net of Data Domain's cash.

The sources further added that the acquisition is expected to be neutral to EMC's non-Gaap earnings per share in its fiscal year 2009 and accretive to its non-Gaap earnings per share in fiscal year 2010.