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Dell agrees $67bn EMC takeover

October 12, 2015 6:07 pm

US computer giant Dell has agreed a deal to buy data storage company EMC for $67bn (£44bn).

EMC shareholders will receive $33.15 per share, $24.05 of which will be in cash.

If approved by regulators, the deal would be the biggest in history between two technology companies.

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Falling demand for PCs means Dell is looking to expand into more lucrative businesses, and it has identified data storage as a key growth area.

“Our new company will be exceptionally well-positioned for growth in the most strategic areas of next-generation IT ,” said Dell boss Michael Dell.

EMC boss Joe Tucci said: “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”.

Mr Dell will be chairman and chief executive of the combined group that, Dell said, would be the world’s “largest privately-controlled, integrated technology company”.

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