Dell announced on Monday that it will buy the EMC in a deal worth about $67 billion, the companies.
Under the terms of the deal, Dell will pay $33.15 per EMC share, which includes cash plus tracking stock linked to part of EMC’s economic interest in VMware, a publicly traded business. The Dell founder and chief executive, Michael S. Dell will lead the combined company as chairman and chief executive.
- “The combination of Dell and EMC creates an enterprise solutions powerhouse bringing our customers industry-leading innovation across their entire technology environment,” Mr. Dell said. “Our new company will be exceptionally well-positioned for growth in the most strategic areas of next-generation I.T.”
The deal, will however need an approval from EMC shareholders and if successful will be one of the biggest takeovers in the history of the tech industry, is expected to close next year.
- “I’m tremendously proud of everything we’ve built at EMC — from humble beginnings as a Boston-based start-up to a global, world-class technology company with an unyielding dedication to our customers,” said Joe Tucci, chairman and chief executive of EMC. “But the waves of change we now see in our industry are unprecedented and, to navigate this change, we must create a new company for a new era. I truly believe that the combination of EMC and Dell will prove to be a winning combination for our customers, employees, partners and shareholders.”
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