Inactive Instrument

EMC Corporation

EMC

EMC : Dell obtains financing for EMC acquisition

October 13, 2015 at 10:19 am EDT

(Reuters) - Dell Inc [DI.UL] has obtained financing for up to $49.5 billion (33 billion pounds) from banks including Credit Suisse, J.P. Morgan, Barclays and BofA Merrill Lynch to fund its acquisition of EMC Corp.

Dell, through a holding company called Denali Holding Inc, has also obtained up to $4.25 billion from Michael Dell and partners, including its investment firm MSD Partners and private equity firm Silver Lake, EMC said in a filing on Tuesday.

The computer maker struck a deal on Monday to buy EMC Corp for $67 billion, setting a record in the technology industry.

(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Don Sebastian)

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Company Profile

EMC Corporation (EMC) develops, delivers and supports the information technology (IT) industry's range of information infrastructure and virtual infrastructure technologies, solutions and services. EMC manages the Company as part of a federation of businesses: EMC Information Infrastructure, VMware Virtual Infrastructure, Pivotal and Virtustream. EMC's Information Infrastructure business provides a foundation for organizations to store, manage, protect, analyze and secure information. EMC's VMware Virtual Infrastructure business is engaged in virtualization and cloud infrastructure solutions that enable businesses to help transform the way they build, deliver and consume IT resources in a manner that is based on their specific needs. EMC's Pivotal business unites strategic technology, people and programs from EMC and VMware and has a platform that consists of data, agile development practices and a cloud independent platform-as-a-service.

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Computer Hardware

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