Home / M&A Activity / Dell Closes Merger With EMC, Unveils ‘Dell Technologies’ Brand

Dell Closes Merger With EMC, Unveils ‘Dell Technologies’ Brand

cloudITDell and EMC have completed their $67 billion cash-and-stock merger to form enterprise information technology company Dell Technologies (NYSE: DVMT) that is forecast to generate $74 billion in annual revenue.

Dell Technologies will run as a privately controlled IT firm and offer clients a portfolio of technology platforms in the areas of hybrid cloud, cybersecurity, data analytics, software-defined data center, platform-as-a-service, converged infrastructure and mobility, Dell said Wednesday.

Michael Dell will serve as chairman and CEO of Dell Technologies.

Dell, Dell EMC, VMware (NYSE: VMW), Boomi, Pivotal, SecureWorks, RSA and Virtustream are among the businesses that will operate under the Dell Technologies brand.

Dell said the combined company will leverage Dell’s experience with small- and medium-sized enterprises with EMC’s experience with large businesses.

EMC stockholders secured $24.05 in cash for each EMC share in addition to tracking stock associated with a part of EMC’s economic interest in VMware and received 0.11146 of Dell Technologies tracking stock for every EMC share held as of Sept. 7.

Both companies announced their combined IT firm in May two months after Michael Dell disclosed the names of the executives that will comprise the integrated company’s senior management group.

The Federal Trade Commission approved the Dell-EMC merger in February.

Check Also

Report: Nelson Pedreiro Appointed to Lead Lockheed’s Space Research Org

Nelson Pedreiro, formerly chief engineer for strategic and missile defense systems at Lockheed Martin‘s (NYSE: …

General Dynamics to Continue INSCOM IT Support Under Potential $300M Contract

A business unit of General Dynamics (NYSE: GD) has received a potential $300 million contract to continue to …

Subscribe to our Newsletter
I will subscribe later