Isilon to become a division within EMC’s Information Infrastructure Products business
EMC, a provider of information infrastructure offerings, has completed its tender offer for all outstanding shares of common stock of Isilon Systems, a division of EMC and a provider of scale-out storage.
Isilon stockholders tendered a total of approximately 63,988,828 shares of Isilon common stock in the offer, representing approximately 95.5% of the outstanding Isilon shares.
The company said that together with the 0.4% of outstanding Isilon shares previously held by it, EMC now controls approximately 95.9% of Isilon shares outstanding.
EMC has accepted for payment all shares tendered in the offer.
EMC said that all remaining outstanding Isilon shares, other than those held by Isilon, EMC or their respective wholly-owned subsidiaries and stockholders who properly perfect appraisal rights under Delaware law, will be converted in the merger into the right to receive $33.85 per share in cash.
The company expects to complete its acquisition of Isilon this week. Further, following the merger, Isilon common stock will cease to be traded on The NASDAQ Stock Market.
Isilon will become a division within EMC’s Information Infrastructure Products business with Sujal Patel, Isilon founder, president and CEO, reporting directly to Pat Gelsinger, president and chief operating officer of EMC Information Infrastructure Products.