NEW YORK (

TheStreet

) --

EMC's

(EMC)

$2.2 billion deal for

Isilon

( ISLN) sends shares of storage rivals like

NetApp

(NTAP) - Get Report

down, but potential takeout targets like

Compellent

( CML) and

CommVault

(CVLT) - Get Report

jumped on hopes of a bigger buyout boom.

EMC said Monday that it would pay $33.85 a share in cash for Seattle-based Isilon. The deal, including cash on hand, is priced to give Isilon shareholders a 28% premium over the value of the stock when it closed trading Friday.

Betting on a potential bidding war, traders pushed the value of the company up above the price of the deal at one point Monday. In pre-market trading, investors sent Isilon shares up 30% to $34.10, or 25 cents more than the deal price.

Shares of Compellent rose 7.5% and CommVault stock was up 3% in early trading Monday in the wake of the Isilon deal.

Storage has been a hot sector as suppliers seek new solutions to help customers keep up with growing data keeping needs. Market researchers at IDC pegged the

growth rate of disk storage

to be running at greater than 20% in the second quarter.

The move by EMC to acquire a network-attached storage or NAS shop, follows similar buyouts in the storage sector including

Hewlett-Packard's

(HPQ) - Get Report

$2.35 billion acquisition of

3Par

(PAR) - Get Report

. HP prevailed over

DELL

(DELL) - Get Report

in a short bidding battle to buy 3Par in September.

In picking Isilon, EMC passed over No. 3 storage player NetApp, which could signal that NetApp may have to be a buyer rather than a target in the storage race.

--Written by Scott Moritz in New York.>To contact this writer, click here: Scott Moritz, or email: scott.moritz@thestreet.com.To follow Scott on Twitter, go to http://twitter.com/MoritzDispatch.>To send a tip, email: tips@thestreet.com.