Dell to Acquire EMC Corporation for $67 Billion

Dell's purchase of EMC will bolster the brand's hybrid cloud in addition to its software-defined data center and overall mobile and security. It also creates the world's largest privately controlled, integrated tech company, so Dell won't be known for just computers anymore. EMC's VMware virtualization arm will remain an independent, publicly traded company.

"The combination of Dell and EMC creates an enterprise solutions powerhouse bringing our customers industry-leading innovation across their entire technology environment. Our new company will be exceptionally well-positioned for growth in the most strategic areas of next generation IT including digital transformation, software-defined data center, converged infrastructure, hybrid cloud, mobile and security," Michael Dell, CEO of Dell, said in a press release statement. "Our investments in R&D and innovation along with our privately controlled structure will give us unmatched scale, strength and flexibility, deepening our relationships with customers of all sizes."

Added Joe Tucci, chairman and CEO of EMC: "I'm tremendously proud of everything we've built at EMC—from humble beginnings as a Boston-based startup to a global, world-class technology company with an unyielding dedication to our customers. But 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. I truly believe that the combination of EMC and Dell will prove to be a winning combination for our customers, employees, partners and shareholders."

The acquisition should especially help Dell with its small business customers, with EMC's relationships with large enterprises to help funnel in more cash flow.