EMC to Buy SOFTWORKS

Expanding its product offerings in the rapidly growing market for storage management software, enterprise storage systems vendor N/A (Hopkinton, MA) agreed to acquire Softworks Inc. (Alexandria, VA) in a cash transaction valued at approximately $192 million. Softworks products improve the management, performance, and integrity of corporate information across Windows NT, UNIX, OS/390, and MVS platforms.

Under the terms of the agreement, EMC will offer to purchase, through a cash tender offer, all outstanding shares of Softworks stock for $10 per share. The cash tender offer will commence no later than December 28. The acquisition is expected to be completed by the end of the first quarter of 2000.

Edited by John Spofford