Friday, July 19, 2019

Dell agrees to acquire EMC for $67B

Dell has agreed to acquire EMC in a cash-and-shares deal valuing the company at US$67 billion, the companies announced Monday.

Michael Dell will become chairman and CEO of the merged company.

The deal will combine the world’s biggest enterprise storage vendor with one of the largest server makers, forming a company that can serve a broad range of enterprise needs. It will take Dell’s storage portfolio upmarket and help to resolve organizational issues vexing EMC.

Dell has spent years trying to make the leap from PCs and small and medium-sized businesses to a full set of components for large enterprises. The alternatives are familiar names like IBM and Hewlett-Packard, while Cisco Systems, EMC and Oracle have also been shooting for big-time cloud deployments. 

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