Dell/EMC merger gives birth to Dell Technologies
$60 billion deal finally closes, creating new tech behemoth
Dell has finally completed its acquisition of EMC, almost a year after the planned merger was first announced.
The acquisition cost Dell $60 billion and is the largest technology merger in history. The new company, Dell Technologies, is now the world's largest privately held tech company, with $74 billion annual revenue and a 140,000-strong global workforce.
Dell Technologies comprises Dell (client solutions), Dell EMC (infrastructure solutions), Pivotal, RSA, SecureWorks, Virtustream and VMware. It will be dual-headquartered in Round Rock, Texas and Hopkinton, Massachusetts - where Dell and EMC were headquartered respectively before the merger.
In a press and analyst call, Michael Dell said: "I think that the formation of Dell Technologies is an industry landscape changing event and if you think about the other companies out there, they are, in one form or another, reacting to what we have done.
"We have stated for a long time that scale matters and we think the ability to invest for the long-term matters, we think innovation and breadth of go-to-market reach matters as well and so we feel quite confident in our ability to grow and do well in both the new, interesting, fast-growth parts of our industry, as well as those where there is consolidation underway."
"We feel quite confident in the approach we have taken and we will see how the others react to it," he added.
The company reiterated that there are no immediate plans, post transaction, to merge or close any of the business units that now make up Dell Technologies - indeed, Dell spun off its software division to make room for EMC earlier this year - but said this could be reviewed in the future.
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