Dell Buys EMC for $67 Billion

Today we are witnessing the biggest technology acquisition of all time as Dell is buying EMC for whooping $67 Billion.

EMC may not be the name like Google and Apple, but its subsidiaries and line of products are! EMC sells data protection, storage, cloud, big data, security and content management systems to top-tier companies around the world. EMC also owns famous names in cyber security and virtualization industry: RSA and VMWARE.

The most interesting part of the deal is that EMC net worth is more than twice as much as of Dell’s and has employees more than 75,000 people around the globe.

According to latest reports the headquarters of the new tech combination will be based in Hopkinton, Massachusetts, and Michael Dell will lead the business as a CEO. The acquisition is planned to close on February 3 of 2017.

This deal will test Dell’s skills in the faster-growing market of a new industry of data storage and security,

Dell said it would pay $24.05 per share in cash and the rest in a special stock that tracks the value of a portion of EMC’s economic interest in VMware Inc, the virtualization software company majority-owned by EMC.

VMware whose market value is more than $30 billion will stay as a public company. According to Dell EMC shareholders are expected to receive about 0.111 shares of the new tracking stock for each EMC share. Shares of VMware closed at $78.65 Friday.

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