Dell completes mega-acquisition EMC

Dell has completed its major acquisition of business services firm EMC. The combined company now employs 140,000 people and has combined annual sales of $74 billion.

According to business newspaper The Wall Street Journal, the acquisition will make Dell Technologies the largest tech company whose shares are not traded on the stock exchange. Dell says it will provide details about the acquisition on Thursday when discussing its quarterly results. Michael Dell will join the board of directors of VMWare, a subsidiary of EMC. The entry is a consequence of the takeover.

The takeover took almost eleven months. Dell announced in October last year that it wanted to acquire EMC. EMC was then given a few months to look around to see if another company wanted to make a better offer. That didn’t happen.

Dell pays $67 billion for EMC. While many media outlets refer to that as the biggest takeover in the tech sector to date, it’s not accurate. The largest acquisition in the tech sector to date was the takeover of the German Mannesmann by Vodafone, worth around 200 billion euros. More money was also involved in the buyout of Vodafone’s share in Verizon Wireless. The provider received about 130 billion for half of the American mobile provider.