EU clears Dell’s $67 billion purchase of EMC

Dell and EMC merger approved by EU

The European Commission has approved Dell Inc’s planned $67 billion purchase of data storage company EMC Corp.

The massive technology merger was first announced in October 2015. If approved the merger would be the largest in the technology industry sector.

Dell says the merger would allow it to better compete with the likes of Cisco Systems Inc, IBM, and Hewlett-Packard in cloud computing, mobility and cyber security.

The European Commission approved the deal while noting that even with the massive purchase, the combined company would still only control a moderate market share in external enterprises storage systems.

The EU said EMC’s VMare, which has a strong foothold in virtualization, would not gain enough power to push out competitors.

EU Commissioner Margrethe Vestager said: “Given the strategic importance of the data storage sector, I am pleased that we have been able to approve Dell’s multi-billion dollar takeover of EMC within a short space of time while making sure that there would be no adverse effects on customers.”

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Written by John Howard

John Howard

John Howard is the Business Editor at BusinessPundit.com. He is an avid watcher of markets, a wallflower of retail, and a fan of disruptive businesses that utilize technology and unique ideas to form brilliant new ways of doing business. He can be reached at Student Loan Ninja