US computer giant Dell has agreed a deal to buy data storage company EMC for $67bn (58.9bn).
If approved by the regulators, this would be the biggest deal between two technology companies in history.
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"Under the terms of the agreement, EMC shareholders will receive $24.05 per share in cash in addition to tracking stock linked to a portion of EMC’s economic interest in the VMware business," the press release wrote.
The deal will bring together two companies with strong global positions in servers, storage, virtualisation and PCs.
The companies said that the acquisition will also bring together the ‘strong capabilities’ in the fastest growing areas of the industry, including digital transformation, software-defined data center, hybrid cloud, converged infrastructure, mobile and security.
The companies believe that combining their strengths in terms of corporate clients could fuel profitable growth.
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By GlobalData"The transaction will unite Dell’s strength with small business and mid-market customers with EMC’s strength with large enterprises to fuel profitable growth and generate significant cash flows. The combined company will consist of strategically-aligned businesses and incubated high-growth assets, fostering innovation, enabling customer choice and attracting and retaining world-class talent," the press release wrote.
