ROUND ROCK, Texas and HOPKINTON, Mass - February 23, 2016 -
Dell Inc. and EMC Corp. (NYSE: EMC) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the companies' proposed combination. The expiration of the waiting period occurred at 11:59 p.m. EST on Feb. 22, satisfying one of the conditions to the closing of the proposed transaction. The transaction remains subject to approval by EMC's shareholders, regulatory clearance in certain other jurisdictions and other customary closing conditions.
As announced on Oct. 12, 2015, the combination of Dell and EMC will create the world's largest privately-controlled, integrated technology company. The company will be a leader in the extremely attractive high-growth areas of the $2 trillion information technology market with complementary product portfolios, sales teams and R&D investment strategies.
“We are delighted that, with this key regulatory milestone now complete, we have taken another step on our path to becoming a combined company,” said Michael Dell, Chairman and CEO of Dell Inc. “Our teams are engaged in integration planning and all transaction-related workstreams are on track.”
“We are very pleased to receive FTC clearance as this takes us a step closer to realizing our vision of creating a global privately-controlled technology company. Together, our investments in R&D, focus on innovation and world-class sales and service will enable our customers to accelerate their journey to hybrid cloud and digital transformation,” said Joe Tucci, Chairman and CEO of EMC.
EMC Corporation (NYSE:EMC) is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing . Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset – information – in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at www.EMC.com.
Dell Inc. listens to customers and delivers worldwide innovative technology, business solutions and services that give them the power to do more. For more information, visit www.dell.com.