Dell 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.
