Dell is set to make the biggest-ever takeover in the technology industry by buying storage provider EMC.
The deal is expected to be roughly $65 billion and will be announced as soon as today.
Acquiring EMC will give Dell one of the biggest names in computer data storage, adding to existing offerings like network servers, corporate software and mobile devices.
“We’re continuing to evolve the company into the most relevant areas where I.T. is moving,” Mr. Dell said in an interview. “This deal just accelerates that.”
Under the terms of the deal, Dell will pay the equivalent of $33.15 a share in a complicated transaction involving both cash and a special kind of stock. That price is about 27 percent higher from where EMC’s shares were trading before news of the deal first emerged.
Founded outside Boston nearly four decades ago, EMC is one of the huge tech companies, and the bulk of the company’s value is now in its 81 percent stake in VMware, the hugely popular maker of virtualization software that emulates different operating systems.
That company has a market value of about $33 billion, valuing EMC’s stake at about $27 billion.