Dell buys EMC (Enterprise Data Storage) making the $65 billion dollar purchase the largest technology buyout in history. Dell, along with investment firm Silver Lake, are going all in to make EMC storage solutions part of the Dell empire. EMC is a data storage solutions company that have their stake in enterprise in computer security, cloud storage and hard storage. The full details of the buyout are not available as the official announcement has not been made yet. Dell’s investment was made in the belief that the company needs to expand its business from consumer electronics and laptops to the enterprise space and cloud storage.
“We’re continuing to evolve the company into the most relevant areas where I.T. is moving,” Mr. Dell said in an interview. “This deal just accelerates that.”
Under the terms of the deal, Dell will pay the equivalent of $33.15 a share in a complicated transaction involving both cash and a special kind of stock. That price is about 27 percent higher from where EMC’s shares were trading before news of the deal first emerged.
This is a pretty big investment for the company who went private just a few years ago which has probably helped the company. The EMC purchase is just the next step for Dell to re-imagine themselves and re-mold their reputation among consumers and enterprise.
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[button link=”http://www.nytimes.com/2015/10/12/business/dealbook/dell-to-buy-emc-for-65-billion-a-record-takeover-in-technology.html?_r=0″ icon=”fa-external-link” side=”left” target=”blank” color=”285b5e” textcolor=”ffffff”]Source: NY Times[/button]Last Updated on November 27, 2018.
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