SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report December 7, 1995
EMC CORPORATION
(Exact name of registrant as specified in its charter)
Massachusetts 1-9853 No. 04-2680009
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
171 South Street, Hopkinton, MA 01748
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (508) 435-1000
Item 5. Other Events
On December 7, 1995, the registrant announced that it had acquired McDATA
Corporation, a leader in data center network switching solutions.
The transaction, accounted for as a pooling of interests, is valued at
approximately $234 million, and includes the acquisition of approximately
$60 million in McDATA working capital. The registrant issued approximately
13.6 million shares of common stock, based on an average closing price of
$17.21 for the ten trading days prior to the completion of the acquisition.
This brought the number of the registrant's outstanding shares (fully diluted)
to approximately 248 million. The registrant announced its agreement to acquire
McDATA on October 25, 1995. After regulatory review and approval by McDATA
shareholders, the acquisition has been completed.
The acquisition of McDATA is expected to be accretive to the registrant's
earnings, adding approximately 8-10 cents per share for the current fiscal year,
which ends December 30, 1995. McDATA, which will operate as a wholly-owned
subsidiary of the registrant, is based in Broomfield, Colorado, employs 150
people and expects its 1995 revenues to exceed $150 million.
Previously a privately-held company, McDATA's flagship product is the ESCON
Director, a high-speed fiber-optic based network switch designed to connect
computers and peripherals within data center environments. The ESCON Director
is marketed by IBM Corporation under an exclusive OEM agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized
EMC CORPORATION
Date: December 19, 1995 By:/s/ Colin G. Patteson
Colin G. Patteson
Vice President, Chief Financial
Officer and Treasurer
