Menu
​Dell sets date for EMC acquisition

​Dell sets date for EMC acquisition

China approval comes through as multi-billion dollar merger edges closer.

Joe Tucci - CEO, EMC and Michael Dell - CEO, Dell

Joe Tucci - CEO, EMC and Michael Dell - CEO, Dell

Dell’s multi-billion dollar acquisition of EMC will close on September 7, with China regulatory approval clearing the way for the birth of Dell Technologies.

Almost a year since announcing its intention to create the world’s largest technology vendor, Dell said the combined company will begin operating immediately following the close of the transaction.

“This is an historic moment for both Dell and EMC,” Dell chairman and CEO, Michael Dell, said.

“Combined, we will be exceptionally well-positioned for growth in the most strategic areas of next generation IT including digital transformation, software-defined data centre, converged infrastructure, hybrid cloud, mobile and security.

“Our investments in R&D and innovation, along with our 140,000 team members around the world, will give us unmatched scale, strength and flexibility, deepening our relationships with customers of all sizes.”

The announcement follows regulatory approval of the Dell and EMC transaction by China’s Ministry of Commerce (MOFCOM), which has granted clearance for the companies’ proposed combination.

MOFCOM approval was the final regulatory condition to closing the transaction after EMC shareholders approved the transaction on July 19, with approximately 98 per cent of voting in favour of the merger, representing approximately 74 per cent of EMC's outstanding common stock.

“I am proud of everything we’ve built at EMC - from humble beginnings as a Boston-based startup to a global, world-class technology company with an unyielding dedication to our customers,” EMC chairman and CEO, Joe Tucci, added.

“The combination of Dell and EMC creates a new powerhouse in the industry - providing the essential technology for the next era in IT.”

At closing, EMC shareholders will receive $US24.05 per share in cash in addition to a newly issued tracking stock linked to a portion of EMC’s economic interest in the VMware business.


Follow Us

Join the newsletter!

Error: Please check your email address.

Tags DellDell Technologiesemc

Featured

Slideshows

Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
HP re-imagines education through Auckland event launch

HP re-imagines education through Auckland event launch

HP New Zealand held an inaugural Evolve Education event at Aotea Centre in Auckland, welcoming over 70 principals, teachers and education experts to explore ways of shaping and enhancing learning using technology.

HP re-imagines education through Auckland event launch
Reseller News ICT Industry Awards 2017 - Meet the winners...

Reseller News ICT Industry Awards 2017 - Meet the winners...

Reseller News honoured the industry’s finest on a standout evening for the New Zealand channel, recognising the achievements of established and emerging partners on a memorable night in Auckland.

Reseller News ICT Industry Awards 2017 - Meet the winners...
Show Comments