Dell
Industryweek 11846 Dell Computer 1
Industryweek 11846 Dell Computer 1
Industryweek 11846 Dell Computer 1
Industryweek 11846 Dell Computer 1
Industryweek 11846 Dell Computer 1

Dell Finalizes Huge EMC Deal to Become Largest Tech Group

Sept. 7, 2016
"We are at the dawn of the next industrial revolution," said CEO Michael Dell.

Dell said on Sept. 7 that it completed the acquisition of data storage firm EMC, creating the largest privately held technology group with a range of computing services.

The completion creates a new firm called Dell Technologies and finalizes a record $67 billion deal for EMC, which will help the struggling PC maker accelerate its efforts in cloud and mobile computing.

Dell founder and chairman Michael Dell, who took the computer maker private in 2013, said the new firm would be better positioned to compete in the evolving technology landscape.

"We are at the dawn of the next industrial revolution," he said.

"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."

Dell Technologies will be offering a variety of services for enterprises including cloud computing, data analytics, mobility and cybersecurity. It moves Dell further away from its origins in the personal computer market, which is shrinking.

Michael Dell created the company from his dorm room at the University of Texas and led it to become a global heavyweight known for direct service to customers.

He led a $24.9 billion buyout to take it private as it attempts a transformation amid diminishing PC sales and the shift to mobile computing.While Dell Technologies remains private, EMC shareholders received a new tracking stock to be traded on the New York Stock Exchange which represents the outstanding shares in software virtualization firm VMware, which had been a unit withing EMC.

Dell Technologies, based in Texas, will have estimated annual revenues of $74 billion and 140,000 employees, with operations in 180 countries.

Copyright Agence France-Presse, 2016

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!