EMC Completes Tender Offer for Isilon Systems

EMC has announced the successful completion of its tender offer for all outstanding shares of common stock of Isilon Systems. The tender offer expired at 12:00 midnight Eastern Standard Time on December 17, 2010. Isilon stockholders tendered a total of approximately 63,988,828 shares of Isilon common stock in the offer, representing approximately 95.5 percent of the outstanding Isilon shares. Together with the 0.4 percent of outstanding Isilon shares previously held by EMC, EMC now controls approximately 95.9 percent of Isilon shares outstanding. EMC has accepted for payment all shares tendered in the offer.

EMC expects to effect a second-step merger. 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.

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. Sujal Patel, Isilon Founder, President and CEO, will report directly to Pat Gelsinger, President and Chief Operating Officer, EMC Information Infrastructure Products.