Dell has announced the EMC acquisition will finally be completed by 7th September ending nearly a year of approvals and decades of history for the two companies that will combine to become Dell Technologies.
The deal was announced last October with an estimated value of $67 billion. The companies recently crossed their last regulatory hurdle when China’s Ministry of Commerce signed off on the deal.
Buying EMC and its federation of related companies will make Dell a stronger player in key areas that include software-defined data centre, converged infrastructure, hybrid cloud, and security, Dell Technologies Chairman and CEO Michael Dell said in a press release.
It will be the only company selling everything from edge devices to core data centres and cloud infrastructure, he said earlier this year. Dell Technologies’ major competitors will include Hewlett Packard Enterprise, IBM, and Cisco Systems.
The new enterprise company will be called Dell EMC, while the consumer PC business will continue to be called Dell. VMware, which is majority-owned by EMC, will continue to also be publicly traded, and Dell remains privately held.
Michael Dell founded the company that would bear his name in 1984 when he was a college student assembling PCs. EMC began in 1979 and grew into the world’s largest independent enterprise storage vendor, along the way acquiring VMware, security vendor RSA, and cloud infrastructure player Pivotal.
EMC Chairman and CEO Joe Tucci, who has run the company since 2001 is expected to retire after the close of the deal.
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