Dell Inc’s dream to buy EMC for $60+ billion has got the approval of EMC shareholders on Tuesday. It just took 12 minutes for the shareholders to endorse the deal in favor of Dell. And as per our sources, the newly combined entity will be named as ‘Dell Technologies’ and will prove as a one stop shop for IT products sold to businesses.
In recent years, Dell’s PC business has declined to astonishing levels, as computing users have switched to mobile devices and other new form factors.
In mid last year, Michael Dell thought that the time has come to venture into other businesses and announced in October’15 that his company was buying EMC for $67 billion. However, that value fell to $62 billion in February this year after a review from both parties.
With EMCs acquisition Dell wants to establish itself as a leader in data center business. The deal will also fetch Dell, virtualization leader VMware as a topping.
As soon as the merger of Dell & EMC takes place, the two companies plan to focus their business objective more on cloud computing’s hybrid approach that includes both cloud and on-premises operations.
Dell plans to exploit Converged Infrastructure products of EMC where computing, storage and networking equipment are available as bundled storage.
Also with the acquisition, Dell plans to get a hold on EMC’s partial subsidiaries such as Pivotal Software, Inc and RSA Security LLC and their related markets.
Dell Technologies will be a blend of Dell’s server, PC and Storage units along with EMCs storage business which includes VMware’s data center software and virtualization business, VirtuStream’s enterprise cloud unit and RSAs security products.
More details of the deal and the price quote for which EMC was exactly sold to Dell will be available on EMCs investor website after tallying.