Dell Inc acquired EMC Corporation for 67 billion US dollars

This will the biggest tech deal in history with a 67 billion US dollars acquisition of EMC Corp by Dell.

Created On: Oct 15, 2015 14:24 IST

Dell Inc and EMC Corporation on 12 October 2015 signed a definitive agreement under which Dell, together with its owners will acquire EMC Corporation, while maintaining VMware as a publicly-traded company.

This will the biggest tech deal in history with a 67 billion US dollars acquisition of EMC Corp by Dell. The owners of Dell include Michael S Dell, founder, chairman and CEO of Dell, MSD Partners and Silver Lake, the global leader in technology investing.

VMware Inc is a US company that provides cloud and virtualization software and services. It is a subsidiary of EMC Corporation.

Terms of the definitive agreement between Dell Inc and EMC
• A valuation for each share of tracking stock of 81.78 US dollars, EMC shareholders would receive a total combined consideration of 33.15 US dollars per EMC share and the total transaction would be valued at approximately 67 billion US dollars.
• VMware will remain an independent publicly-traded company.
• The transaction is expected to be financed through a combination of new common equity as well as new debt financing and cash on hand. There are no financing conditions to the closing of the transaction.
• Michael S Dell and related stockholders will own approximately 70 percent of the company’s common equity, excluding the tracking stock, similar to their pre-transaction ownership.
• Following completion of the transaction, Michael S Dell will lead the combined company as Chairman and Chief Executive Officer.
• Dell’s headquarters will remain in Round Rock, Texas and the headquarters of the combined enterprise systems business will be located in Hopkinton, Mass.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS

Related Stories

Comment (0)

Post Comment

7 + 4 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.

    Monthly Current Affairs PDF

    • Current Affairs PDF October 2021
    • Current Affairs PDF September 2021
    • Current Affairs PDF August 2021
    • Current Affairs PDF July 2021
    • Current Affairs PDF June 2021
    • Current Affairs PDF May 2021
    • Current Affairs PDF April 2021
    • Current Affairs PDF March 2021
    View all

    Monthly Current Affairs Quiz PDF

    • Current Affairs Quiz PDF October 2021
    • Current Affairs Quiz PDF September 2021
    • Current Affairs Quiz PDF August 2021
    • Current Affairs Quiz PDF July 2021
    • Current Affairs Quiz PDF June 2021
    • Current Affairs Quiz PDF May 2021
    • Current Affairs Quiz PDF April 2021
    • Current Affairs Quiz PDF March 2021
    View all