Go Dell or go home: Dell to acquire EMC in biggest ever tech acquisition

Published October 12th, 2015 - 09:38 GMT

PC maker Dell will acquire U.S.-based data storage company EMC for $65 billion, Dell said in a statement on Monday.

It is the biggest technology acquisition in history, tech analysts said.

Dell, which owner Michael Dell started 30 years ago to make and sell computers, will merge with EMC to create the world's largest privately held technology company. Michael Dell took the company private in 2013, paying out $24 billion.

EMC is a cloud computing specialist, with extensive data storage technology assets. It also owns an 81 percent stake in VMware, which makes software that manages virtual PCs using different operating systems. The company "employs approximately 70,000 people worldwide", and "has approximately 400 sales offices and scores of partners in 86 countries around the world", according to the EMC website. 

The move will make Dell into a global IT services provider. "The combination of Dell and EMC creates an enterprise solutions powerhouse bringing our customers industry leading innovation across their entire technology environment," Michael Dell said in the statement.

Dell arranged financing for the deal with the help of Silver Lake Partners, a U.S. private equity firm.

© Copyright Andolu Ajansi

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