Emc corp. has agreed to buy Data General Corp., a top maker of computer data-storage products, for $1.1 billion in stock, the companies said. The acquisition enables EMC - based in Hopkinton, Mass., and regarded as the market leader in data-storage systems - to tap into the mid-range storage market, which typically serves systems priced from $100,000 to $1 million.
Cisco Systems has agreed to invest $1 billion in KPMG
LLP to aid the accounting and consulting firm's expansion onto the Internet, officials of the companies announced. San Jose, Calif.-based Cisco, a leading maker of computer networking equipment, will buy a 19.9 percent stake in KPMG's new unit, called KPMG Consulting, which includes consulting units in North and South America and parts of Asia. KPMG will use the money to hire 4,000 engineers and service professionals to develop and deliver Internet-based data, voice, and video services to its clients.
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