Dell agrees record $67b EMC deal
With the takeover of EMC, Dell moves away from the personal computer market and into the data storage and management
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Dell has agreed to buy EMC Corp, a data storage company for $67 billion in a record technology deal.
The deal sees Dell move away from the personal computer market and into the data storage and management business, which is seen to be more lucrative and growing faster.
The $67 billion deal values Dell at $33.15 a share. Dell will pay $24.05 a share in cash.
EMC shares shot up 3.9 per cent to $29.08 before the US market opened.
Michael Dell will lead the combined company as chairman and chief executive. "The combination of Dell and EMC creates an enterprise solutions powerhouse," Mr Dell said.
Erik Gordon, clinical assistant professor at the Unibversity of Michigan’s Ross School of Business, said that Dell wants to position itself as a new IBM Corp, or a place where corporate clients can go for all of their technology needs. “That model fell apart a couple of decades ago. Reviving it would be a stunning coup for Dell," Mr Gordon said.
Additional reporting by Reuters
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments