Dell to buy EMC in largest tech deal ever
- 9 years ago
Dell and private equity firm Silver Lake said Monday they would buy EMC for $33.15 a share for a total price tag of about $67 billion in the largest deal in technology industry history.
The deal, confirmed Monday, was previously reported by The New York Times.
Shares of EMC rose 8% in pre-market trading.
"We're continuing to evolve the company into the most relevant areas where (information technology) is moving," Dell told the newspaper in an interview.
"This deal just accelerates that."
Dell is offering EMC shareholders about $24.05 a share in cash and $9.10 of a tracking stock tied to EMC's VMware stake.
EMC bought VMware in 2004 for $625 million.
EMC was left with an 80% stake in VMware when it went public.
The deal, confirmed Monday, was previously reported by The New York Times.
Shares of EMC rose 8% in pre-market trading.
"We're continuing to evolve the company into the most relevant areas where (information technology) is moving," Dell told the newspaper in an interview.
"This deal just accelerates that."
Dell is offering EMC shareholders about $24.05 a share in cash and $9.10 of a tracking stock tied to EMC's VMware stake.
EMC bought VMware in 2004 for $625 million.
EMC was left with an 80% stake in VMware when it went public.