Consummating a deal that was rumored for much of last week, Dell this morning confirmed that it is acquiring search giant EMC and its myriad businesses for $ 67 billion, a record amount for the technology industry.
EMC’s most valuable piece, virtualization leader VMware, will continue as a publicly traded company, according to Dell.
From a Dell press release:
The combination of Dell and EMC will create the world’s largest privately-controlled, integrated technology company. The company will be a leader in the extremely attractive high-growth areas of the $ 2 trillion information technology market with complementary product portfolios, sales teams and R&D investment strategies. The transaction combines two of the world’s greatest technology franchises with leadership positions in servers, storage, virtualization and PCs and it brings together strong capabilities in the fastest growing areas of the industry, including digital transformation, software-defined data center, hybrid cloud, converged infrastructure, mobile and security.