Technology company Dell agreed to buy a company specializing in data storage EMC for about $67 billion. This will be the the biggest transaction in the technology sector. Data storage and IT giant EMC, with this transaction will be merged to Dell, which occupies second place in the sector of servers, reports Bloomberg. Michael Dell will be the director and president of this new combined company, and it is expected that the agreement will be concluded by the end of next year.
Dell plans to pay $24.05 per share plus shares in EMC’s company VMware, which are worth about nine dollars.
Thus, shares of EMC are valued at $33.15, which is 19 percent above the value they had on Friday at the closing of the stock exchange.
VMware, which specializes in “cloud” computing, previously a subsidiary of EMC, will remain an independent company.
Since 2013, when it became a private company that is not on the stock exchange Dell began investing in research and development in software and services.