The nearly year-long saga to merge Dell and EMC is finally over.
Dell Technologies, as the new corporate entity is now called, announced today that the $67 billion deal, first announced on Oct. 12, 2015, had crossed the finish line. During a Sept. 7 media briefing, CEO Michael Dell said that in the wake of the acquisition, the combined organization is poised to help enterprises tackle the Internet of Things and digital transformation challenges they face. He said Dell Technologies has embarked on "creating the next great technology company that can do more to advance innovation at scale than any company on the planet."
With a combined worth of $74 billion, the historic deal has earned Dell Technologies the distinction of being the largest privately-owned tech company. According to the firm, 98 percent of the Fortune 500 are customers.
Dell Technologies rests on two major pillars, said Dell during the call. Its client solutions business will continue to operate under the Dell brand and its enterprise infrastructure and data center solutions unit will henceforth be known as Dell EMC. The remainder, including VMware, Pivotal, SecureWorks and Virtustream, "will continue to keep their independence and their freedom to develop their own ecosystems," he assured.
Heading the new IT behemoth is, of course, Michael Dell. EMC's longtime CEO, Joe Tucci, is reportedly retiring. David Goulden, CEO of EMC's Information Infrastructure unit, which was largely responsible for the company's market-leading enterprise data storage systems portfolio, has been named the president of the Infrastructure Solutions Group at Dell EMC.
In a blog post today, Goulden said customers can expect the company to continue to make major investments in research and development (R&D). He noted that over the past three years, both Dell and EMC poured a combined $12.7 billion into their R&D efforts, a figure he expects to climb higher in the future.
Goulden also hinted at more integrated solution sets as Dell Technologies begins to sheds the vestiges of operating as separate companies.
"In the coming weeks, months and quarters you’ll begin to see the fruits of these efforts in the form of ambitious new product plans that span and, in many cases, weave together our broad product portfolio. These plans don’t just encompass Dell EMC – they expand across Dell Technologies," wrote Goulden.
Pedro Hernandez is a contributing editor at Datamation. Follow him on Twitter @ecoINSITE.