WEB DESK: There are rumours that Dell is all set for a merger with IT giant EMC raising $40 billion from the big banks, the Bloomberg reported on Monday.
EMC possesses a controlling amount of shares in cloud computing software vendor VMware, a $34 billion publicly-traded company. Bloomberg reported that Dell will take over the controlling stake of the IT giant EMC in this deal.
In this deal Dell with take EMC private and will leave VMware on the public markets trading. Dell itself went from being a public company to privately own in 2013.
For its part, EMC has fallen on some hard times. Free software like Hadoop, which can be run on commodity servers, has seriously impacted EMC’s storage and data processing businesses, since it removes the need for customers to buy often-pricey software and hardware products, the Business Insider reported
Dell and EMC both declined to comment on rumors of a merger.
Source: Business Insider