The OEM has acquired data storage maker EMC for $67 billion (€58 billion), following Michael Dell buying out Dell, which he founded in 1987, for $25 million (€22 million) two years ago.
Dell said that the move “creates a world-leading company […] the private structure gives us a tremendous amount of flexibility”, The World Weekly reported.
EMC has more than 70,000 employees and is the largest data storage provider in the world, with close competitors including HP and IBM. Joe Tucci, Chairman and CEO of EMC, said: “The waves of change we now see in our industry are unprecedented and, to navigate this change, we must create a new company for a new era.”
BostInno reported HP as describing the deal as a “highly distracting, multi-year merger” and a “real opportunity for HP”.