Dell Technologies Now World’s Largest Privately-Controlled Tech Company

Dell Technologies today announced completion of the acquisition of EMC Corporation, creating what it called “a unique family of businesses that provides the essential infrastructure for organizations to build their digital future, transform IT and protect their most important asset, information.”

This combination creates a $74 billion market leader with an expansive technology portfolio that solves complex problems for customers in the industry’s fast-growing areas of hybrid cloud, software-defined data center, converged infrastructure, platform-as-a-service, data analytics, mobility and cybersecurity, said Dell.

“We are at the dawn of the next industrial revolution. Our world is becoming more intelligent and more connected by the minute, and ultimately will become intertwined with a vast Internet of Things, paving the way for our customers to do incredible things,” said Michael Dell, chairman and CEO of Dell Technologies in a prepared statement.

When the transaction closed on September 7, 2016, EMC shareholders received $24.05 per share in cash in addition to tracking stock linked to a portion of EMC’s economic interest in the VMware business.