Computer tech company Dell has signed an agreement to buy data storage firm EMC for a reported $67bn.
It has been speculated that the acquisition has been broached to compensate for the falling demand for PCs, with data storage a key area of future growth in ‘cloud computing’.
The deal, if approved by regulators, is expected to close mid-2016, with EMC shareholders reported to receive $33.15 per share.
“Our new company will be exceptionally well-positioned for growth in the most strategic areas of next-generation IT,” said Dell founder, chairman and chief executive Michael Dell, who would be chairman and chief executive of the newly formed group.
However, some have speculated that the group could be imitating IBM Corp’s ‘one-stop shop for corporate clients’, which collapsed decades ago.
The value of shares in VMware, the software company controlled by EMC, will determine the exact price of the deal while VMware itself will remain an independent, listed company.
