NetApp Receives All Regulatory Clearances to Proceed With Data Domain Acquisition; Stockholder Vote Set for August

Mon Jul 6, 2009 8:01am EDT
 
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  SUNNYVALE, CA, Jul 06 (MARKET WIRE) -- 
NetApp (NASDAQ: NTAP) today announced that the U.S. Securities and
Exchange Commission declared NetApp's Registration Statement for its
proposed acquisition of Data Domain (NASDAQ: DDUP) effective allowing the
transaction to proceed to a stockholder vote. The Data Domain Board of
Directors has set a Special Meeting of Data Domain stockholders for
August 14, 2009 to consider and vote on the merger. Proxy statements will
be mailed to Data Domain's stockholders of record as of June 17th.

    Additionally, on Thursday, July 2 the U.S. Federal Trade Commission (FTC)
granted the merger agreement early clearance under the United States
Hart-Scott-Rodino Antitrust Improvements Act of 1976. This move confirms
that the FTC will not conduct any further reviews related to the merger
and clears the way for NetApp and Data Domain to close on a timely basis
following the approval of the transaction by the Data Domain stockholders.

    "We are pleased to have passed these important milestones, which we
believe set us on course for a clear and timely path to close," said Dan
Warmenhoven, chairman and CEO of NetApp. "We continue to believe that our
offer is superior to the unsolicited offer from EMC. Not only does
NetApp's proposal provide Data Domain stockholders with attractive short-
and long-term value, our combination creates significant advantages for
customers and employees, who will benefit from a lower risk of business
disruption, continued competition in the marketplace, enhanced products
and services, and the complementary nature of our two businesses."

    "We look forward to the upcoming Data Domain stockholder vote on August 14
and a quick close of our transaction so that we can get to work realizing
the promise of this compelling combination."

    Forward-Looking Statements
 In addition to historical information, this
document contains certain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. The forward-looking
statements contained herein represent NetApp's beliefs regarding future
events, many of which are, by their nature, inherently uncertain and
outside NetApp's control. Forward-looking statements include, but are not
limited to, statements regarding the benefits of NetApp's acquisition of
Data Domain, including future financial and operating results; NetApp's
plans, objectives, expectations and intentions; and other statements that
are not historical facts.

    NetApp cautions readers that the forward-looking statements contained
herein are subject to risks and uncertainties that could cause actual
results to differ materially from the results anticipated by such
statements. Such risks and uncertainties include, but are not limited to,
the risk that Data Domain's stockholders will not approve the transaction;
the risk that the businesses will not be integrated successfully; the risk
that the cost savings and other synergies from the transaction will not be
fully realized or may take longer to realize than expected; the
possibility that there may be disruptions from the transaction making it
more difficult to maintain relationships with customers, employees or
suppliers; uncertainties regarding competition and its effect on pricing,
spending, third-party relationships and revenues; and the other risks
affecting NetApp, Data Domain or the combined entity described in (i) the
Proxy Statement/Prospectus filed by NetApp with the Securities and
Exchange Commission (the "SEC") on June 4, 2009, as the same may be
amended from time to time, and (ii) other filings made by NetApp and Data
Domain with the SEC, including, but not limited to, Quarterly Reports on
Form 10-Q and Annual Reports on Form 10-K. NetApp disclaims any
obligation to update and revise the forward-looking statements contained
in these materials based on new information or otherwise.

    Additional Information and Where to Find It
 As mentioned above, in
connection with the proposed acquisition of Data Domain, on June 4, 2009,
NetApp filed with the SEC a Registration Statement on Form S-4
(Commission File Number 333-159722), as the same may be amended from time
to time, containing a Proxy Statement/Prospectus for Data Domain's
stockholders, and NetApp and Data Domain each plan to file with the SEC
other documents regarding the proposed transaction. The definitive Proxy
Statement/Prospectus will be mailed to the stockholders of Data Domain.
BEFORE MAKING ANY INVESTMENT OR VOTING DECISION, INVESTORS AND SECURITY
HOLDERS OF DATA DOMAIN ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS
AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY
BECAUSE SUCH DOCUMENTS CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION.

    Investors and security holders will be able to obtain free copies of the
Registration Statement, Proxy Statement/Prospectus and other documents
filed with the SEC by NetApp and Data Domain through the website
maintained by the SEC at www.sec.gov and by contacting NetApp Investor
Relations at (408) 822-7098 or Data Domain Investor Relations at (408)
980-4909. In addition, investors and security holders will be able to
obtain free copies of the documents filed with the SEC on NetApp's
website at www.netapp.com and on Data Domain's website at
www.datadomain.com.

    Participants in the Solicitation of Proxies
 NetApp, Data Domain and
their respective directors, executive officers and certain other members
of management and employees may be deemed to be participants in the
solicitation of proxies in respect of the proposed transaction. No
additional consideration will be paid to any such participants as a
result of any such solicitations. Additional information regarding
NetApp's executive officers and directors is included in NetApp's
definitive proxy statement on Schedule 14A, as filed with the SEC on July
14, 2008, and NetApp's Annual Report on Form 10-K, as filed with the SEC
on June 17, 2009, and additional information regarding Data Domain's
executive officers and directors is included in the Proxy
Statement/Prospectus referenced above, as well as in Data Domain's Annual
Report on Form 10-K and Form 10-K/A, as filed with the SEC on March 13,
2009 and April 30, 2009, respectively. You can obtain free copies of
these documents from NetApp or Data Domain using the contact information
above.

    About NetApp
 NetApp creates innovative storage and data management
solutions that help our customers deliver outstanding cost efficiency and
accelerate business breakthroughs. Discover our passion for helping
companies around the world go further, faster at www.netapp.com.

    NetApp, the NetApp logo, and Go further are trademarks or registered
trademarks of NetApp, Inc. in the United States and/or other countries.
All other brands or products are trademarks or registered trademarks of
their respective holders and should be treated as such.

    

For Press Inquiries:
NetApp
E-mail: xdl-uspr@netapp.com
(408) 822-3287

Copyright 2009, Market Wire, All rights reserved.

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