Dell Technologies: Biggest Tech Merger In History
Michael Dell, chairman and CEO of Dell announced at Las Vegas that the biggest merger in tech history will be called Dell Technologies.
"It has a nice sound to it," he said at the Venetian Convention Center where he was giving the keynote address at the annual EMC World Conference. On October 12, 2015, Dell announced its intent to acquire the enterprise software and storage company EMC Corporation, at $67 billion.
"The brand equity of Dell PC is irreplaceable," he said. Dell Technologies will comprise Dell, EMC. The combined business of Dell and EMC, would go by the name of Dell-EMC, he announced. The merger is waiting for approval by US authorities and shareholders.
"We are investing in speed, agility and innovation and creating the essential infrastructure for the next industrial revolution," the tech celebrity said, pointing out that they were just one day short of the 32nd birthday of his company. He further added, "I am more energised and optimistic today."
He said the combined company, Dell and EMC, would stand at the centre of innovation and next big growth in IT. "Today, we stand at the centre of human progress and there is no other place I'd rather be," Dell concluded.
Joe Tucci, 69, chairman and CEO of EMC said that, "something great and something truly special" would emerge out of the two giants coming together. Further he said that "everyone had to be prepared for the coming digital revolution, which would dwarf the industrial revolution in terms of innovation and change."