EMC Commenced Tender Offer for All Outstanding Shares of Isilon

EMC Corporation announced commencement of a cash tender offer to purchase all outstanding shares of common stock of Isilon Systems, Inc. for $33.85 in cash without interest and less any required withholding taxes.

The tender offer is being made pursuant to a previously announced merger agreement dated November 14, 2010 among EMC, Electron Merger Corporation, a wholly-owned subsidiary of EMC, and Isilon. Once the tender offer is completed, EMC will promptly acquire the remaining outstanding Isilon shares for the same price per share through a merger with Isilon.

The board of directors of Isilon unanimously:

• determined that the merger agreement is advisable,
• determined that the merger agreement and the transactions contemplated by the merger agreement, including the tender offer and the merger, taken together, are at a price and on terms that are in the best interests of Isilon and its stockholders, and
• approved the merger agreement and the transactions contemplated by the merger agreement, including the tender offer and the merger.  Accordingly, the board of directors of Isilon unanimously recommends that Isilon’s stockholders accept the tender offer and tender their Isilon shares pursuant to the tender offer and, if required by law, adopt the merger agreement.

The tender offer expired at 12:00 midnight on Friday, December 17, 2010, unless extended in accordance with the merger agreement and the applicable rules and regulations of the Securities and Exchange Commission (SEC). The tender offer is subject to customary conditions, including the acquisition by EMC of a majority of the outstanding shares of Isilon common stock on a fully diluted basis and the receipt of antitrust approvals in the U.S.