EMC is enhancing its software solutions with a $1.3 billion acquisition of software company LEGATO Systems. The deal, which was rumored back in March, will be an all-stock transaction. LEGATO is known for its heterogeneous management software. The acquisition is one of many for EMC, which purchased Astrum Software in April and recently acquired software assets from BMC Software.
"This combination is all about improving the access, management, and protection of an organization's core asset--information--through its complete lifecycle," said Joe Tucci, EMC president and CEO. David B. Wright, LEGATO Systems chairman and CEO, added, "\[LEGATO Systems\] will now have additional resources to further accelerate the development and delivery of solutions to the market in order to fulfill our mission of delivering the software and services that protect and manage customer's information, assure the availability of their applications, and provide immediate access to business-critical information."
The transaction is expected to be complete by the end of 2003. After it's complete, LEGATO will operate as a software division of EMC and will be headquartered in Mountain View, California.