In a $60 billion deal, Dell Technologies Wednesday closed its acquisition of EMC Corp. launching a new chapter for Dell, a 32 year old company founded in a dorm room at the University of Texas at Austin.
It is the largest tech deal ever.
And Dell gets the award for coolest aerial stunt to introduce a new company ever.
Together Dell and EMC have created a huge powerhouse technology company. Dell Technologies sees the combination creating “the focus and innovation of a startup with the global scale and service of a large enterprise.”
The privately-held company plans to focus on its customers and partners for the long term.
“We are at the dawn of the next industrial revolution,” Michael Dell, chairman and CEO of Dell Technologies said in a news statement. “Our world is becoming more intelligent and more connected by the minute, and ultimately will become intertwined with a vast Internet of Things, paving the way for our customers to do incredible things. This is why we created Dell Technologies. We have the products, services, talent and global scale to be a catalyst for change and guide customers, large and small, on their digital journey.”
The company will continue to be based in Round Rock. It will have 140,000 employees worldwide. It will have combined revenue of $74 billion.
In a post on LinkedIn, Dell talked about the importance of adapting and changing and not growing complacent as a large company. He also talked about the importance of playing nice, but competing to win. Advice he gleaned from his mother growing up.
“After 32 years in business, I’ve learned some important lessons about winning. Winning with integrity (to paraphrase my mom) certainly tops the list. But another lesson that’s particularly relevant and crucial in today’s business environment is this: change or die. It sounds dramatic, but it’s truer than it’s ever been,” Dell wrote in the blog post. “This is a time of unprecedented change. It’s been called the next Industrial Revolution, where data, the Internet of Everything and information technology replace industrialization as the driving force of progress and transformation. Disruption is around every corner and in every industry, but so is opportunity.”
Dell chose to disrupt his own company – first by taking it private. And next, by acquiring EMC in the largest tech deal in history.
So now all eyes will be on Dell to watch the company “play nice…but win.”