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Dell acquires EMC for $67bn, this is the biggest tech buyout in history

14/10/2015 by

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$67bn acquisition marks move away from flagging PC sector, but can Dell succeed in cut-throat IT services market?

Michael Dell, founder and CEO of Dell Computers, has announced the biggest deal in technology history after his privately-run PC maker agreed to acquire the data storage company EMC for an initial estimate of $67bn.

The deal comes just two years after Michael Dell took the company he founded private in a controversial £25bn buyout.

EMC shareholders will receive about $24.05 in cash, plus new shares tied to the value of its software subsidiary VMware. Dell will retain majority control of VMware, which will remain an independently traded listed company.

Based on the closing price of VMware stock on the last day before takeover talks were disclosed last week, the offer for EMC equated to a total value of around $33.15 a share, or $67bn. But a modest decline in the shares since then brought down the headline value of the deal to around $63bn when it was formally announced yesterday.

The acquisition comes amid a wave of consolidation among older tech companies as once high-growth groups have been forced to face the realities of a maturing industry, says the Financial Times. It adds that deal-making in the sector has reached its highest level since the dotcom bubble of the late 1990s, at around $370bn in value.

This article has been extracted from http://www.theweek.co.uk, please click on this link to read the article in full http://www.theweek.co.uk/65825/dell-acquires-emc-in-biggest-tech-buyout-in-history

Montash is a multi-award winning global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP Recruitment, BI & Data Recruitment, Information Security Recruitment, Enterprise Architecture & Strategy Recruitment , Energy Technology Recruitment, Demand IT and Business Engagement Recruitment, Digital and E-commerce Recruitment, Leadership Talent, Infrastructure and Service Delivery Recruitment, Project and Programme Delivery Recruitment.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

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