Dell has agreed to purchase Boston-area data storage company EMC for $67 billion, making it the largest tech acquisition ever, The Boston Globe reports.
Dell will take a huge amount of debt in the complicated cash and stock purchase, according to The New York Times. The price of $67 billion is also well above EMC’s market value of $53.6 billion.
Hopkinton, Mass. will become the of the new combined enterprise systems business, according to a statement.
“I’m tremendously 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,’’ Joe Tucci, chairman and chief executive officer of EMC, said in a statement. “But the waves of change we now see in our industry are unprecedented and, to navigate this change, we must create a new company for a new era.’’
Gallery: Major companies that call Massachusetts home.