Dell and EMC close to completing merger

Michael Dell

Dell Inc. and EMC Corp. are set to close its merger after receiving regulatory approval from China’s Ministry of Commerce. The deal was announced back in October 2015 and will be completed on September 7. The combined company will start operating under the name Dell Technologies after the transaction is completed. In the face of growing pressure from cloud-based offerings, Dell and EMC plan to develop a wider product lineup ranging from servers to key software services and storage devices.

“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,” says 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.”

Source: Bloomberg