EMC Buys Into Personal Information Management (EMC)

By Douglas A. McIntyre Published Feb 21, 4:44PM EST

EMC Corporation (NYSE: EMC) has announced it will acquire Seattle-based Pi Corporation. This is a small merger, but this company is one we have actually had under watch as a development stage operation that could have gone public via an IPO down the road.

Pi is a privately-held developer of software and provider of services for personal information management. Pi develops software and online services to enable individuals to control how they find, access, share and protect their increasing volumes of digital information; it owns SmartDesktop. Its products are also in beta as of now. Pi now has roughly 100 engineers located in the U.S., Canada and India.

Pi founder and CEO Paul Maritz, will join EMC’s executive management team as President and GM of the newly formed Cloud Infrastructure and Services Division upon completion of the deal. Financial terms were not disclosed, but the merger is apparently all-cash and will be dilutive by $0.01 to EMC’s 2008 GAAP EPS.

This won’t be as big as Virtualization was, but this is yet another new avenue of products that we’ll all be using in the future.

Jon C. Ogg
February 21, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.