In what will mark the largest IT merger ever, EMC Corp. shareholders have approved the US$60 billion dollar merger with Dell Inc., it was reported on Tuesday.
In an 98 per cent vote, the shareholders voted in favour of the merger, pending regulatory approval. The transaction is expected to close on the original terms and within the originally announced October 2016 timeframe, according to EMC.
The newly formed organization will be known as Dell Technologies and consolidates Dell’s PC and server business with EMC’s storage hardware offerings.
Moving forward, the synergies created by the merger will likely focus on emerging technologies such as the cloud, mobile and converged infrastructure products.
“Today’s resoundingly favorable shareholder vote clearly supports our view that combining Dell and EMC will create a powerhouse in the technology industry,” said EMC chairman and CEO Joe Tucci in a statement.
