Round Rock-Based Dell To Buy EMC for $67 Billion

The talks are over, and now it’s confirmed: Dell Inc., headquartered in Round Rock, announced Monday that it will buy EMC Corp.

The $67 billion takeover is one of the ”largest deals in technology industry history,” according to the Austin American-Statesman.

With 14,000 employees, Dell is Round Rock’s largest employer.

Under the deal, Dell, Silver Lake and MSD Partners will acquire the data company, and will maintain VMware, of which EMC owns 80 percent.

An announcement released by Dell said it will be the world’s largest privately-controlled, integrated technology company after the takeover.

“Our new company will be exceptionally well-positioned for growth in the most strategic areas of next generation IT including digital transformation, software-defined data center, converged infrastructure, hybrid cloud, mobile and security,” said Michael Dell in the statement.

• Want more Round Rock news? Click here for our daily newsletter and news alerts.

Under the terms of the agreement, EMC shareholders 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.

VMware will remain an independent, publicly-traded company.

The EMC Board of Directors approved the merger agreement and intends to recommend that stockholders of EMC approve the agreement.

[Photo courtesy of Dell Inc.]