- Dell Inc. and EMC Corp. close on a planned merger today, the companies announced, in what could be a major addition to the healthcare big data analytics market.
The merger was announced at the end of October 2015. The new company, Dell Technologies, is planning to begin operations immediately following the completion of the merger.
“This is an historic moment for both Dell and EMC. Combined, we will be exceptionally well-positioned for growth in the most strategic areas of next generation IT including digital transformation, software-defined data center, converged infrastructure, hybrid cloud, mobile and security,” said Michael Dell, chairman and CEO of Dell Technologies. “Our investments in R&D and innovation, along with our 140,000 team members around the world, will give us unmatched scale, strength and flexibility, deepening our relationships with customers of all sizes.”
The merger comes in the wake of regulatory approval by China's Ministry of Commerce (MOFCOM). The clearance from MOFCOM was the last hurdle that needed to be cleared before the transaction could be finalized.
EMC shareholders approved the merger on July 19.
“I am proud of everything we’ve built at EMC – from humble beginnings as a Boston-based startup to a global, world-class technology company with an unyielding dedication to our customers,” said Joe Tucci, chairman and chief executive officer of EMC. “The combination of Dell and EMC creates a new powerhouse in the industry – providing the essential technology for the next era in IT.”
When Dell announced that it had acquired EMC for $67 billion, the transaction was billed as the largest tech deal in history.
EMC offers data storage, virtualization, information security, cloud computing, and big data analytics technologies to businesses across a variety of market sectors.
Dell has been transitioning from a personal computer provider to a new big data powerhouse. Prior to the acquisition, EMC owned about 20 percent of the data storage market, or roughly double as much as Dell.
Dell Technologies will face stiff competition in the healthcare big data analytics space, with companies like Apple, Google, IBM, HP and Amazon having already made waves in the market. Dell's interests in precision medicine and predictive analytics are likely to ensure that the healthcare industry remains a top priority for the new company for the foreseeable future.