DellÂ and EMCÂ have completed their $67 billion cash-and-stock merger to form enterprise information technology companyÂ 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 Dellâs experience with small- and medium-sized enterprises with EMCâs 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 EMCâs economic interest in VMware and received 0.11146 of Dell Technologies tracking stock for every EMC share held as of Sept. 7.
TheÂ Federal Trade Commission approved the Dell-EMC merger in February.