In the biggest tech deal of all time, Dell announced Monday that it has agreed to buy corporate software, storage and security giant EMC for $67 billion.
The deal completes Dell’s transformation from a consumer PC business to an IT solutions provider for companies. That process began when Dell bought Perot Systems for $4 billion in 2009 and went full throttle in 2013 when company founder Michael Dell took the business private.
EMC is a behemoth of a corporate IT business. It is among the largest providers of storage hardware in the world. It also makes servers and owns security company RSA, which is known for its hard-to-crack SecurID tokens. And its most prized possession is its 81% stake in VMware — the company that rules the world of virtualization software that allows businesses to run various operating systems on their devices.