Dell to purchase EMC for $67 billion.
Today, Dell announced that it will purchase EMC for a sum of $67 billion. The EMC Board of Directors has already approved the merger. The deal is expected to close next year - as soon as the merger meets the approval of EMC shareholders and regulators.
The acquisition means that EMC shareholders will receive $33.15 per share, including cash and tracking stock which includes EMC's investments in the popular virtualization software maker, VMware. VMware has a current market value of $33 billion, meaning that EMC's value in the deal is about $27 billion.
EMC has faced its own struggles over the past year. The cost of data storage plummeted over the past decade, and additional acquisitions by the company failed to meet expectations.
By acquiring EMC, Dell will now have access to a business that has the biggest market share in computer data storage. This would add to its existing offers including network servers, corporate software, and mobile devices.
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