UPDATE - EMC to acquire RSA Security for almost $2.1B

In a deal that marries one of the IT industry's biggest data storage vendors and one of its best-known security companies, EMC Corp. Thursday unveiled plans to acquire RSA Security Inc.

Under the deal, Hopkinton, Mass.-based EMC will pay US$28 a share, or almost $2.1 billion, for Bedford, Mass.-based RSA, according to the companies. The acquisition is expected to be completed late in the third quarter or early in the fourth quarter of this year.

"The mandate is clear from our customers: We need to be able to ensure that the information is secure and encrypted" with identity management and other protections, said Joe Tucci, EMC's chairman, president and CEO. "These are the things that RSA brings to EMC."

The technology company that integrates security with information management "will be a huge winner in the technology marketplace, and that company is EMC," he said during a conference call late this afternoon.

"EMC is where information lives, and with RSA, it's where it will live securely," Tucci said.

Earlier, in a statement, Tucci said the deal "signals a fundamental change in the landscape of the security market."