Dell wraps up $60B acquisition of EMC

Almost a year after the deal was first announced, Dell has completed its acquisition of storage provider EMC for $60 billion. It has also rebranded itself as Dell Technologies.

Dell Technologies is now the world's largest privately controlled tech company, operating in the areas of hybrid cloud, software-defined data centers, converged infrastructure, platform-as-a-service, data analytics, mobile devices, and cybersecurity, Dell said.

With a corporate structure consisting of a family of businesses such as Dell and Dell EMC, Dell Technologies believes it has the ability to act like a start-up while providing the scale and service of a large enterprise. The deal also brings together Dell's strength in small business and midmarket customers with EMC's position in large enterprises, according to the vendor.

EMC shareholders have received $24.05 per share in cash, along with shares of a new tracking stock linked to a portion of EMC's interest in its VMware business. For each EMC share they held, shareholders were given 0.11146 shares of the tracking stock, which is trading on the New York Stock Exchange as DMVT.

Dell also noted that while the company is privately controlled, it will publicly report its financial results.

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