Dell to buy VMware’s majority shareholder, EMC, in $67 billion record tech deal, aims for cloud market

According to Wall Street Journal, Dell Inc struck a deal on Monday to buy data storage company EMC Corp the majority stakeholder of VMware for $67 billion, setting a record in the technology industry, as it tries to transform itself into a giant in the fast-growing market for managing and storing corporate data. Image credit: Business Finance News Below is the perspective of VMWare on the deal.

Dear Valued Customer, As you may know, Dell Inc. and EMC Corporation, VMware’s majority shareholder, have signed a definitive agreement under which Dell, together with its owners, Michael S. Dell, MSD Partners, and Silver Lake, will acquire EMC Corporation, while maintaining VMware as a publicly traded company. VMware’s mission and strategy remain unchanged: to provide you, our customers, significant value through software-defined computing, networking and storage solutions, and our cloud, mobile, and desktop offerings. Our leadership team will remain in place and we are as committed as ever to helping you address your most pressing business and IT challenges. We look forward to developing even more valuable solutions for our customers and we will continue to invest in the strong partner ecosystem that has been such a core part of our success. You should feel confident that this agreement was made with customers in mind, and that the world-class service and support VMware has always provided you will continue. As always, we will focus on bringing disruptive innovation to market to help customers like you succeed. Pat Gelsinger Chief Executive Officer