Dell Buys EMC For Historic $63B With China’s OK
Some 10 months after the announcement that Dell would acquire EMC, sources say the deal is all but done after Chinese officials are primed to give approval, according to multiple reports.
The acquisition comes with a total price tag of $67 billion, itworld.com reported. The company will be called Dell Technologies, which will encompass the enterprise infrastructure division, while the PC side of the business will remain under the name of Dell.
The deal makes Dell the biggest seller of enterprise storage utilities. EMC also owns VMWare, and in July, the company’s shareholders voted in favor of the merger, EMC said in a press release.
It’s believed Dell will announce the deal sometime this week with a closing date on the IT industry’s largest-ever deal to come before October.