7 September 2016, USA :
Dell Technologies today announced completion of the acquisition of EMC Corporation, creating a unique family of businesses that provides the essential infrastructure for organizations to build their digital future, transform IT and protect their most important asset, information.
This combination creates a $74 billion market leader with an expansive technology portfolio that solves complex problems for customers in the industry’s fast-growing areas of hybrid cloud, software-defined data center, converged infrastructure, platform-as-a-service, data analytics, mobility and cybersecurity.
Michael Dell, chairman and CEO of Dell Technologies, said, “We are at the dawn of the next industrial revolution. 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.”
Congrats to our friends at EMC and Dell on your big day! pic.twitter.com/wN2ANWFA8K
— Pivotal (@pivotal) September 7, 2016
“To win in business today, you must be fearless about disrupting yourself and transforming for the future. Think about the big companies that didn’t—like Blockbuster, Kodak or AOL. They faded away completely or became a shadow of their former selves. ‘Business as usual’ is how you lose in the digital era in which we live.
Today, Dell EMC and VMware play mission-critical roles in the transformation of our customers’ organizations around the world. But together as Dell Technologies, we will be unstoppable,” he wrote on his Linkedin account page.
When the transaction closed on September 7, 2016, EMC shareholders received $24.05 per share in cash in addition to tracking stock linked to a portion of EMC’s economic interest in the VMware business. Based on the estimated number of EMC shares outstanding at close, EMC shareholders received 0.11146 shares of new tracking stock for each EMC share. The value of the tracking stock may vary from the market price of VMware given the different characteristics and rights of the two stocks.
Jamie Dimon, Chairman and CEO, JPMorgan Chase, commented, “Financial services is one of the first-movers in embracing technology to better serve our customers, and the next wave of digitalization continues a trend that’s been occurring my whole lifetime. As one of the world’s biggest users of Dell and EMC, we spend approximately $9 billion a year on technology, including infrastructure as well as cloud computing, big data analytics and cybersecurity. We make sure we spend wisely and select our partners very carefully. I’ve known Michael Dell for 30 years. He’s top notch, ethical, and deeply cares about everyone he works with – both internally at his company and across the industry. I’m thrilled for Michael and the new company, and we are eager to see everything they create in the future.”
Dell Technologies serves 98 percent of the Fortune 500 and comprises several market leading businesses. The two largest, and most well-known, are the Dell client solutions business and the Dell EMC infrastructure solutions business – both of which are supported by Dell EMC Services. In addition, Dell Technologies contains Boomi, Pivotal, RSA, SecureWorks, Virtustream and VMware. This unique structure combines the focus and innovation of a startup with the global scale and service of a large enterprise.
Dell Technologies’ scale will enable it to deliver more innovation and investment in R&D, sales and marketing, services and support and deliver more efficient and cost-effective solutions for customers. Furthermore, while the company will publicly report its financial results, it is privately controlled, enabling it to better focus investments on its customer and partner ecosystem over the long term.
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