News

Dell finally acquired EMC for $67bn

Putting all the speculations into rest, Dell has finally agreed to acquire EMC for $67bn. As reports EMC has accepted an offer worth $33.15 per share that includes $24.05 in cash, with the rest in securities tied to the value of VMware, the data centre software maker that EMC controls. VMware will remain a listed company.

“The waves of change we now see in our industry are unprecedented and, to navigate this change, we must create a new company for a new era,” said Joe Tucci, chairman and chief executive officer of EMC in a statement.

The deal will be financed via a combination of new common equity from Michael Dell, MSD Partners, Silver Lake and Temasek, new tracking stock, debt and cash on hand.

If completed, the deal will be the second large buyout by Mr Dell, one of the pioneers of the PC industry, in barely two years.

This deal means Dell will be a formidable and invincible force against the biggies like HP, IBM and Oracle. However it is difficult to speculate about the impact of the merger on the likes of AWS and Google business which have been pecking the traditional business piece with stealth.

However the nitty-gritties of the deal will be clear today when Dell, Dell Founder, Chairman and CEO; Joe Tucci, EMC Chairman and CEO; Tom Sweet, Dell CFO; and, Zane Rowe, EMC CFO; Egon Durban, Silver Lake Managing Partner and Managing Director will sit for a media and analyst QNA at around 7:45 a.m. – 8:30 a.m. CDT, Monday, Oct. 12, 2015.

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