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Dell-EMC deal closes Sept. 7

This blog post is part of our Essential Guide: Dell EMC World 2017: Viewing storage from all angles

LAS VEGAS, Nevada — Dell and EMC made it official today. Dell will close its $67 billion acquisition of the largest storage vendor Sept. 7, following the transaction’s official approval today by China’s Ministry of Commerce.

Executives from both companies had projected the Dell-EMC deal would close within a year of its original disclosure, which was last Oct. 12 The Sept. 7 closing date makes it with room to spare.

Jeremy Burton, EMC’s president for products and marketing, said the process went as smooth as possible from the deal’s announcement to close. Burton will become chief marketing officer for Dell EMC after the close. Dell founder and CEO Michael Dell said in May that his company will change its name to Dell Technologies following the close.

“I’m really sorry there wasn’t more drama in this whole merger,” Burton said in interview at VMworld. “The whole process has been unremarkable. We always figured China would be the long pole in the tent, and it was.”

There was little drama about the deal at VMworld, although EMC-owned VMware is part of Dell’s acquisition. Michael Dell appeared with VMware CEO Pat Gelsinger during the Monday keynote, but the official news release about the closing went minutes after today’s keynotes ended without fanfare.

VMware ‎chief communications officer Oliver Roll opened the post-keynote press conference by relaying news about the close. “We’re pleased about that,” Roll said, and the rest of the press conference focused on products and technologies discussed during the keynote.

“This is an historic moment for both Dell and EMC,” Dell said in the press release. “Combined, we 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. Our investments in R&D and innovation, along with our 140,000 team members around the world, will give us unmatched scale, strength and flexibility, deepening our relationships with customers of all sizes.”

The release also quoted EMC CEO Joe Tucci: “I am 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. The combination of Dell and EMC creates a new powerhouse in the industry – providing the essential technology for the next era in IT.”

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I hope this deal will make them stronger, but I am sure that there will be layoffs as well.
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