In October of last year, Dell announced plans to acquire EMC in a deal worth roughly $67 billion. EMC's board of course approved the transaction, but that was just the first step in many of what is a complicated process with so many moving parts. Today we've learned that The FTC has granted their approval for the deal, one more regulatory hurdle has now been cleared. In a joint release, Dell and EMC went on to say the transaction is on schedule with the original terms and an EMC shareholder vote to approve is expected this spring. There are still lingering regulatory approvals required, which are in process.
In October of last year, Dell announced plans to acquire EMC in a deal worth roughly $67 billion. EMC's board of course approved the transaction, but that was just the first step in many of what is a complicated process with so many moving parts. Today we've learned that The FTC has granted their approval for the deal, one more regulatory hurdle has now been cleared. In a joint release, Dell and EMC went on to say the transaction is on schedule with the original terms and an EMC shareholder vote to approve is expected this spring. There are still lingering regulatory approvals required, which are in process.
During the merger process, neither company has slowed their pace from an operational standpoint. EMC has been especially active, pressing forward with several initiatives including the VxRail joint effort with VMware, made cloud updates, contributed widely to open source initiatives, and has been kicking butt in our lab with their VCE ScaleIO Solution. They also have a major launch event February 29th with an emphasis on flash and a big reveal on what they've been up to with DSSD. For their part Dell has recently launched a new ultra-dense enclosure for their server group, made new Azure connections, enhanced the thin client portfoltio and has more enterprise news later this week.
“We are delighted that, with this key regulatory milestone now complete, we have taken another step on our path to becoming a combined company,” said Michael Dell, Chairman and CEO of Dell Inc. “Our teams are engaged in integration planning and all transaction-related workstreams are on track.”
“We are very pleased to receive FTC clearance as this takes us a step closer to realizing our vision of creating a global privately-controlled technology company. Together, our investments in R&D, focus on innovation and world-class sales and service will enable our customers to accelerate their journey to hybrid cloud and digital transformation,” said Joe Tucci, Chairman and CEO of EMC.
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