The combined entity will be a $74bn a year tech giant
Today (7 September), Dell’s historic $67bn cash and stock acquisition of EMC will close, making EMC a division within the overall Dell Technologies family.
When the transaction closes today, EMC shareholders will receive $24.05 in cash per share.
EMC will join Dell’s portfolio of enterprise companies, which includes Boomi, Pivotal, RSA, SecureWorks, VirtuStream and VMware.
The merger will make Dell Technologies one of the biggest employers in Ireland, with more than 6,000 people employed between the two companies in Dublin, Cork and Limerick.
‘We are at the dawn of the next industrial revolution’
– MICHAEL DELL
Merging the two organisations won’t be easy, which raises question marks over whether there will be headcount reductions.
The next stage of the digital journey
The acquisition, which was given the go-ahead by the European Commission last March and recently by Chinese regulators, will make Dell Technologies a $74bn-a-year giant that has interests in servers, storage, virtualisation, and PC, as well as software-defined networks, hybrid cloud, converged infrastructure, mobile, and security.
The new entity will serve 98pc of Fortune 500 companies.
“We are at the dawn of the next industrial revolution,” said Dell Technologies chairman and CEO Michael Dell.
“Our world is becoming more intelligent and more connected by the minute, and ultimately will become intertwined with a vast internet of things, paving the way for our customers to do incredible things.
“This is why we created Dell Technologies. We have the products, services, talent and global scale to be a catalyst for change and guide customers, large and small, on their digital journey.”
Dell image via Shutterstock
