LAS VEGAS – It’s official: Dell Inc. and EMC Corp. announced today the US$67 billion dollar merger is expected to close early next month.
Regulatory approval from China’s Ministry of Commerce (MOFCOM) has been finalized, clearing way to combine Dell and EMC. According to the companies, the new company will be dubbed Dell Technologies once the transaction is completed on September 7.
The news that the companies are merging is a “historic” one, according to Dell CEO and chairman Michael Dell.
“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,” he added in a statement.
A recent study from research firm IDC noted that the merger is complementary in nature and represents one of the biggest in IT history; the mix of Dell’s traditional strength in the IT midmarket and EMC’s standing in the large enterprise space will provide “new opportunities” for customers.