Largest Deal In Tech History – Michael Dell Acquires EMC Corp. For $67 Billion

Michael Dell has made the biggest financial move in the history of tech industry. It has acquired IT services giant EMC Corporation and the deal value is about $67 billion.

The earlier largest tech financial deal of all time was between Avago Technologies and Broadcom for $37 billion.

In the new deal the PC and IT services giant Dell will pay EMC shareholders $24.05 in cash and about $9.10 in stock. This mean the approximate value of a share would be $33.15.

On the 2015 FORBES 400 list Michael Dell ranks 47th having a fortune of about $20 billion.

In recent years Dell has spent upwards of $18 billion in merging into it software, server and IT services businesses. With the new acquisition it seems the company is seeking to compete directly with companies like HP and IBM.

EMC chairman and CEO Joe Tucci said the merger will bring the company a new way to navigate through a quickly changing landscape.

Tucci had earlier announced his retirement, but it is learned he would remain with his posts until the deal closes. After the deal Michael Dell will be taking over the leadership of the combined company as CEO and chairman.