EMC has approved Dell’s $60 billion offer to become part of the glorious Empire in the largest technology merger ever.
The newly combined entity, to be named Dell Technologies, aims to be a one-stop shop for information technology sold to businesses. OF course they all say that, but this will be pretty big.
It will consolidate diverse products and services under one umbrella, including personal computers, servers, storage and networking equipment. The only thing which could stick a spanner in the works is regulatory approval from China.
EMC Chief Executive Joe Tucci said before the vote that the board evaluated numerous options and decided that the merger with Dell is the best outcome.
Once combined, the two companies plan to help customers move to cloud computing, which likely would be a hybrid approach that includes both cloud and on-premises operations.
The deal will also let Dell exploit EMC’s “converged infrastructure”, to sell computing, storage and networking equipment as an easy-to-install bundle.
The deal will give current EMC shareholders a tracking stock for VMware shares. Consequently, the privately held Dell will issue quarterly financial reports.
