Industry & Business

Dell and EMC’s merger now complete

Dell and EMC’s merger now complete

September 07
19:28 2016

download-2Dell and EMC have announced that their multi-billion merger has now been completed.

The merger has made the two combined companies the largest privately owned controlled tech company.

Last year, Dell announced it would buy data storage company EMC in a deal valued at about $67 billion, the largest on record in the technology sector.

The offer is $33.15 per share in cash and special stock.

Dell said it would pay $24.05 per share in cash and the rest in a special stock that tracks the value of a portion of EMC’s economic interest in VMWare, the virtualisation software company majority-owned by EMC.

VMware will remain an independent, publicly traded company.

Michael Dell will be the combined company’s chairman and chief executive officer, while EMC CEO Joe Tucci will continue in his position until the transaction closes.

EMC has an Irish workforce of over 3,000, most of which are based in Cork, while Dell employs over 2,300 people in Dublin, Cork and Limerick. VMware also has more than 700 staff in Cork.

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