AUSTIN (KXAN) — More than three years after going private, Round Rock-based Dell Technologies is now the world’s largest privately-controlled tech company after acquiring EMC Corporation.
Last fall when Dell announced it wanted to buy EMC for $67 billion, the tech industry went into a tizzy about the repercussions from this buyout. On Wednesday, the deal was finalized and EMC shareholders received $24.05 per share in cash. The combination of the two companies creates a $74 billion company.
By acquiring EMC, Dell was able to diversify its portfolio with IT storage hardware. According to a press release, the company will focus on customers in fast-growing areas such as hybrid cloud, software-defined data center, converged infrastructure, platform-as-a-service, data analytics, mobility and cybersecurity.
In a statement, chairman and CEO of Dell Technologies Michael Dell aid, “We are at the dawn of the next industrial revolution. Our world is becoming more intelligent and more connected by the minute, and ultimately will become intertwined with a vast Internet of Things, paving the way for our customers to do incredible things. This is why we created Dell Technologies. We have the products, services, talent and global scale to be a catalyst for change and guide customers, large and small, on their digital journey.”
The “new” company will have a total revenue of $74 billion and 140,000 employees worldwide.