The name EMC might be foreign to many average users out there but the 36 years old company is actually one of the biggest name in tech industry. Specializing in enterprise storage, cloud computing, and data protection, the company will soon be acquired by Dell in what said to be one of the largest deal in the tech industry.
With the help of several investment firms such as Silver Lake, MSD Partners, and Temasek, the acquisition by Dell is valued at around USD 67 billion (about RM 277 billion). As EMC has a controlling stake of the well-known virtualization company VMware, this will be passed to Dell as well although VMware will continue to be operated as an independent, publically-traded company.
ADVERTISEMENT
Apart from VMware, EMC also owned Pivotal Software, VCE, RSA Security, and Virtustream. While it is still subjected to stockholders’ approval, this multi-billion acquisition should give a tremendous boost to Dell’s reach within enterprise sector with the help of EMC’s vast portfolios in cloud computing, storage, virtualization, and enterprise IT in general.
Once the acquisition is completed, the combined organization will be led by founder and current CEO of Dell, Michael Dell as chairman and CEO. For the time being, EMC’s chairman and CEO, Joe Tucci will continue to serve his duty at the company.
(Source: Dell. Images: EMC, Dell)
Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news.
