{"id":17978,"date":"2015-10-11T23:22:23","date_gmt":"2015-10-11T23:22:23","guid":{"rendered":"http:\/\/www.cloudcomputing-news.net\/news\/2015\/oct\/12\/dell-agrees-67bn-emc-deal-enterprise-powerhouse-or-walking-dead\/"},"modified":"2015-10-11T23:22:23","modified_gmt":"2015-10-11T23:22:23","slug":"dell-agrees-67bn-emc-deal-an-enterprise-powerhouse-or-the-walking-dead","status":"publish","type":"post","link":"https:\/\/icloud.pe\/blog\/dell-agrees-67bn-emc-deal-an-enterprise-powerhouse-or-the-walking-dead\/","title":{"rendered":"Dell agrees $67bn EMC deal: An \u201centerprise powerhouse\u201d or \u201cthe walking dead\u201d?"},"content":{"rendered":"<p><em>(c)iStock.com\/ictor<\/em><\/p>\n<p>Tech giants Dell and EMC have announced a definitive agreement worth $67 billion (&pound;43.7bn) which claims to &ldquo;bring together the industry&rsquo;s leading innovators in digital transformation, software-defined data centre, hybrid cloud, converged infrastructure, mobile and security.&rdquo;<\/p>\n<p>Under the terms of the agreement, which will according to the two companies create &ldquo;the world&rsquo;s largest privately-controlled, integrated technology company,&rdquo; EMC stockholders will receive approximately $33.15 per share. Dell also confirmed VMware will remain an independent, publicly traded company.<\/p>\n<p>Michael Dell, CEO of Dell, said: &ldquo;The combination of Dell and EMC creates an enterprise solutions powerhouse bringing our customers industry leading innovation across their entire technology environment.<\/p>\n<p>&ldquo;Our investments in R&amp;D and innovation along with our privately-controlled structure will give us unmatched scale, strength and flexibility, deepening our relationships with customers of all sizes. I am incredible excited to partner with the EMC, VMware, Pivotal, VCE, ERS and Virtustream teams and am personally committed to the success of our new company, our customers and partners,&rdquo; he added.<\/p>\n<p>Joe Tucci, EMC CEO, added: &ldquo;The waves of change we now see in our industry are unprecedented and, to navigate this change, we must create a new company for a new era. I truly believe that the combination of EMC and Dell will prove to be a winning combination for our customers, employees, partners and shareholders.&rdquo;<\/p>\n<p>Reaction to the news was mixed. Elliott Management, a large stockholder of EMC, said in a statement it &ldquo;strongly supports&rdquo; the deal. &ldquo;This landmark transaction will create a powerhouse with leading franchises across enterprise IT,&rdquo; they said. Others were less charitable. <a href=\"http:\/\/www.wired.com\/2015\/10\/meet-walking-dead-hp-cisco-dell-emc-ibm-oracle\/\">Writing for <em>WIRED<\/em><\/a>, Cade Metz described Dell and EMC, along with HP, Cisco, IBM and Oracle, as &ldquo;the walking dead&rdquo;, as cloud services and open source moves ever closer to gobbling up legacy software and hardware.<\/p>\n<p>A year ago, EMC announced a raft of merger and acquisition activity, <a href=\"http:\/\/www.cloudcomputing-news.net\/news\/2014\/oct\/15\/emc-snaps-cloudscaling-looks-expand-openstack-markets\/\">buying open cloud provider Cloudscaling<\/a> for a figure south of $50 million before <a href=\"http:\/\/www.cloudcomputing-news.net\/news\/2014\/oct\/22\/emc-beefs-its-stake-vce-buys-out-majority-ciscos-share\/\">buying out all but 10% of Cisco&rsquo;s stake in data centre firm VCE.<\/a> EMC pre-announced its third quarter earnings and sales alongside the acquisition news, with adjusted earnings per share and revenue at 43 cents and $6.05bn to $6.08bn, below the FactSet consensus of 48 cents and $6.24bn respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(c)iStock.com\/ictor<br \/>\nTech giants Dell and EMC have announced a definitive agreement worth $67 billion (&pound;43.7bn) which claims to &ldquo;bring together the industry&rsquo;s leading innovators in digital transformation, software-defined data centre, &#8230;<\/p>\n","protected":false},"author":50,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-17978","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/17978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/comments?post=17978"}],"version-history":[{"count":1,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/17978\/revisions"}],"predecessor-version":[{"id":17979,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/posts\/17978\/revisions\/17979"}],"wp:attachment":[{"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/media?parent=17978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/categories?post=17978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icloud.pe\/blog\/wp-json\/wp\/v2\/tags?post=17978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}