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The new combined company, to be called Dell Technologies, will operate in the fast-growing market of cloud services. After merging, EMC and Dell will create a new executive management group, which will include top managers of Dell and EMC. Among them Pat Gelsinger, Chief Executive Officer of VMware (EMC owns 80% of VMware’s shares), and head of Dell’s division Virtustream Rodney Rogers.
As a result, the total number of employees will number about 140 thousand people, and the annual turnover - $ 74 billion. Composition of Dell Technologies will include businesses of Dell, Dell EMC, Pivotal, RSA, SecureWorks, Virtustream and the VMware. Dell has made an offer to acquire EMC in October 2015 for about $ 67 billion, which was a record for the technology market. In late August, Dell and EMC received a final approval of the transaction from the Ministry of Commerce of China.
"Dell Technologies services 98% of the Fortune 500 and comprises several companies, occupying leading positions in the market. The largest and most famous of them are a "thin" client division of Dell and Dell's division of infrastructure solutions EMC; Dell's EMC Services handles user support of these units. In addition, Dell Technologies will include companies Boomi, Pivotal, RSA, SecureWorks, Virtustream and VMware ", - stated in a press release.
Dell signed the agreement on acquisition of EMC for $ 67 billion in October last year. The transaction will be paid in cash and shares. At the closing of the transaction, EMC shareholders received $ 24.05 in cash per share in addition to new tracking stocks tied to EMC's economic interest in VMware’s business. EMC shareholders received 0.11146 of the new tracking shares for each EMC share. To finance the merger, Dell in partnership with investment firm Silver Lake attracted more than $ 40 billion in loans.
According to Wall Street Journal, Dell deal plans to sell almost all of its software assets to finance the purchase of EMC Corp. Among them are Quest Software, a provider of innovative tools for managing information technology for businesses, as well as a provider of IP network security solutions and data protection SonicWall. At that, the company decided to keep Boomi, a developer of cloud integration software.
Purchase of EMC may require to get rid of a number of assets, since such a large purchase increased Dell’s debts to $ 49.5 billion as estimated by experts.
At the end of March 2016, Dell has agreed to sell its division of Japanese IT services company NTT Data for more than $ 3 billion. We are talking about Dell Services business, built on the basis of Perot Services Company.
The combined company plans to invest in a variety of promising fields, including the Internet of Things and cloud computing. Michael Dell said that Dell Technologies has complete freedom in the choice of spheres for investment due to its status of a private company.
Previously, Dell released financial results for the last quarter, elapsed on 29 July. The company's revenue rose by 1% and reached $ 13.1 billion, according to Bloomberg. Dell also received an operating profit of $ 63 million.
source: bloomberg.com, wsj.com
As a result, the total number of employees will number about 140 thousand people, and the annual turnover - $ 74 billion. Composition of Dell Technologies will include businesses of Dell, Dell EMC, Pivotal, RSA, SecureWorks, Virtustream and the VMware. Dell has made an offer to acquire EMC in October 2015 for about $ 67 billion, which was a record for the technology market. In late August, Dell and EMC received a final approval of the transaction from the Ministry of Commerce of China.
"Dell Technologies services 98% of the Fortune 500 and comprises several companies, occupying leading positions in the market. The largest and most famous of them are a "thin" client division of Dell and Dell's division of infrastructure solutions EMC; Dell's EMC Services handles user support of these units. In addition, Dell Technologies will include companies Boomi, Pivotal, RSA, SecureWorks, Virtustream and VMware ", - stated in a press release.
Dell signed the agreement on acquisition of EMC for $ 67 billion in October last year. The transaction will be paid in cash and shares. At the closing of the transaction, EMC shareholders received $ 24.05 in cash per share in addition to new tracking stocks tied to EMC's economic interest in VMware’s business. EMC shareholders received 0.11146 of the new tracking shares for each EMC share. To finance the merger, Dell in partnership with investment firm Silver Lake attracted more than $ 40 billion in loans.
According to Wall Street Journal, Dell deal plans to sell almost all of its software assets to finance the purchase of EMC Corp. Among them are Quest Software, a provider of innovative tools for managing information technology for businesses, as well as a provider of IP network security solutions and data protection SonicWall. At that, the company decided to keep Boomi, a developer of cloud integration software.
Purchase of EMC may require to get rid of a number of assets, since such a large purchase increased Dell’s debts to $ 49.5 billion as estimated by experts.
At the end of March 2016, Dell has agreed to sell its division of Japanese IT services company NTT Data for more than $ 3 billion. We are talking about Dell Services business, built on the basis of Perot Services Company.
The combined company plans to invest in a variety of promising fields, including the Internet of Things and cloud computing. Michael Dell said that Dell Technologies has complete freedom in the choice of spheres for investment due to its status of a private company.
Previously, Dell released financial results for the last quarter, elapsed on 29 July. The company's revenue rose by 1% and reached $ 13.1 billion, according to Bloomberg. Dell also received an operating profit of $ 63 million.
source: bloomberg.com, wsj.com
