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Title: Dell to buy EMC in deal worth about $67 billion
Source: cnbc
URL Source: http://www.cnbc.com/2015/10/12/dell ... al-worth-about-65-billion.html
Published: Oct 12, 2015
Author: Tom DiChristopher
Post Date: 2015-10-12 10:10:04 by cranky
Keywords: None
Views: 478
Comments: 3

Dell announced a deal Monday with MSD Partners and Silver Lake to buy cloud computing company EMC for roughly $67 billion in cash and stock.

"We're creating an unbelievable powerhouse of an enterprise company," Dell Chairman and CEO Michael Dell told CNBC's "Squawk Box." "This is really all about bringing together complementary technologies and helping our customers address the challenges and opportunities that this digital future is creating."

EMC stockholders will receive about $33.15 per share in cash and a type of stock that is linked to "a portion of EMC's economic interest" in its VMware business, which will remain an independent, publicly traded company, the companies said in a statement Monday.

The transaction marks the largest technology sector deal on record, topping U.S. chipmaker Avago Technologies' $37 billion offer for rival Broadcom. That deal is still in process.

The acquisition of EMC is seen helping Dell diversify from the stagnant personal computer market and give it the scale to attack the faster-growing and more lucrative market for managing and storing data for businesses.

EMC will have a "go-shop" provision that will allow the data storage company to seek out other buyers and give EMC a discounted breakup fee if it finds a more desirable deal, EMC Chairman and CEO Joe Tucci said on "Squawk Box."

"We will do our duty to make sure we get the best deal for our shareholders and time will show," he said.

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#1. To: cranky (#0)

Smart move for Dell. In the past they have come up short on drives when they needed them.

Tooconservative  posted on  2015-10-12   10:56:51 ET  Reply   Trace   Private Reply  


#2. To: TooConservative (#1)

Another confirming factlet that the markets have topped out.

And EMC doesn't make drives; they consume them.

Hank Rearden  posted on  2015-10-12   17:13:32 ET  Reply   Trace   Private Reply  


#3. To: Hank Rearden (#2)

And EMC doesn't make drives; they consume them.

If Dell owns both, they can direct hard drives as they like to their computers or to their cloud service. This gives them great flexibility. Dell already offers online photo albums and hard drive backup as a free service.

Dell also acquires a strong control over VMware in the near term. It is a major server solution for websites, app servers, etc. I use VMware to run Windows and Linux stuff on my Mac and it is available for Windows and Linux OSes as well.

EMC has been underperforming somewhat due to a few bad acquisitions that it made and the shrinking of the cloud market versus its large competitors. So a big integration deal with Dell's retail reach behind it will make good use of EMC as Dell's cloud provider but also help Dell to build EMC-cloud-ready servers and software packages, both with and without VMware.

This will give Dell a new footprint in the same market that IBM currently operates in.

Tooconservative  posted on  2015-10-12   17:27:41 ET  Reply   Trace   Private Reply  


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