Dell founder and chairman Michael Dell, who took the computer maker private in 2013, said the new firm would be better positioned to compete in the evolving technology landscape. Photo: ReutersWashington: US computer maker Dell said on Wednesday it completed the acquisition of data storage firm EMC, creating the largest privately held technology group with a range of computing services. The completion creates a new firm called Dell Technologies and finalizes a record $67 billion deal for EMC, which will help the struggling PC maker accelerate its efforts in cloud and mobile computing. While Dell Technologies remains private, EMC shareholders received shares of a new tracking stock to be traded on the New York Stock Exchange. Dell Technologies, based in Texas, will have estimated annual revenues of $74 billion and 140,000 employees, with operations in 180 countries.

Source: Mint September 07, 2016 16:52 UTC