Dell completes buyout of EMC

(Courtesy: Dell.com)

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.

KXAN.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s