EMC was acquired by Dell in 2016; at that time, Forbes noted EMC's "focus on developing and selling data storage and data management hardware and software and convincing its customers to buy its products independent of their other IT buying decisions" based on "best-of-breed." It was later renamed to Dell EMC. Dell uses the EMC name with some of its products.
Prior to its acquisition by Dell, EMC had, in 2008, acquired Iomega; Dell EMC formed a partnership with Lenovo in 2013, as LenovoEMC, that superseded and rebranded Iomega.
EMC, founded in 1979 by Richard Egan and Roger Marino (the E and M of EMC), introduced its first 64-kilobyte (65,536 bytes) memory boards for the Prime Computer in 1981. EMC continued to develop memory boards for other computer types. In the mid-1980s, the company expanded beyond memory to other computer data storage types and networked storage platforms. EMC began shipping its flagship product, the Symmetrix, in 1990.
While some of EMC's growth is credited to acquisitions of smaller companies, Symmetrix was the main factor in EMC's rapid growth during the 1990s, from a firm valued in the hundreds of millions of dollars to a multi-billion dollar company.
In 2009 EMC signed a two-year deal to be the principal shirt sponsor for English Rugby Union club London Wasps in a deal worth £1 Million. This was later extended until the end of the 2013 season.
Michael Ruettgers joined EMC in 1988 and served as CEO from 1992 until January 2001. Under Ruettgers' leadership, EMC revenues grew from $120 million to nearly $9 billion 10 years later, and the company shifted its focus from memory boards to storage systems. Ruettgers was named one of BusinessWeek's "World's Top 25 Executives"; one of the "Best Chief Executive Officers in America" by Worth magazine; and one of Network World's "25 Most Powerful People in Networking".
Ahead of their acquisition by Dell, EMC gained a reputation for oppressive non-compete agreements and non-compete lobbying through AIM (Associated Industries of Massachusetts)
Acquisition by Delledit
On October 12, 2015, Dell Inc. announced its intent to acquire EMC in a cash-and-stock deal valued at $67 billion, which as of 2021 remains the largest-ever acquisition in the technology sector. The combination of Dell's enterprise server, personal computer, and mobile businesses with EMC's enterprise storage business was a significant vertical merger of IT giants. Dell offered $24.05 per share of EMC, and $9.05 per share of tracking stock in VMware.
On September 7, 2016, Dell Inc. completed the merger, which involved the issuance of $45.9 billion in debt and $4.4 billion common stock. At the time, some analysts claimed that Dell's acquisition of the former
Iomega could harm the LenovoEMC partnership.
Products and servicesedit
In addition to those of the majority-owned Pivotal company, Dell EMC sells products and services, including products from other Dell Technologies companies, designed to allow IT departments to move to a cloud computing model and to analyze big data. LenovoEMC, formerly Iomega, sells storage products.
In 2012, EMC sponsored The Human Face of Big Data, a globally crowdsourced media project focusing on the ability to collect, analyze, triangulate and visualize vast amounts of data in real-time. The Human Face of Big Data, produced by Rick Smolan and Jennifer Erwitt, includes "a number of fascinating stories ... [that] represent some of the most innovative applications of data that are shaping our future".
^"Investor Relations: Frequently Asked Questions - EMC.com". EMC Investor Relations. EMC Corporation. Archived from the original on July 29, 2016. Retrieved September 6, 2016.
^ ab"About EMC Corporation". Emc.com. Retrieved October 15, 2015.
^"EMC Corporation Company Information". Hoover's. 2012. Retrieved February 1, 2013.
^Dignan, Larry (January 17, 2011). "EMC targets mid-market, plans to undercut NetApp". ZDNet. Retrieved September 26, 2013.
^"EMC Corporation Announces Two-for-One Stock Split". Annual Meeting of Stockholders (Live Video Web). D&B AllBusiness. May 3, 2000.
^"A Very Short History Of EMC Corporation". Forbes. September 6, 2016.
^Patrick Moorhead (May 1, 2018). "Dell Technologies World 2018 Day 1: One Big Happy Family". Forbes. Dell EMC storage, Dell EMC PowerEdge servers, Dell EMC Data Protection, and optional Dell EMC open networking.
^"Iomega Accepts Takeover Offer (Published 2008)". The New York Times. Reuters. April 9, 2008. ISSN 0362-4331. Retrieved December 4, 2020.
^ ab"Lenovo and EMC Create LenovoEMC JV to Bring Network Attached Storage to SMBs and Distributed Enterprise Sites". January 3, 2013.
^"No "C", EMC was founded by Egan and Marino only". February 28, 2013. Retrieved October 28, 2020.
^Lyons, Daniel (November 26, 2001). "What's Eating EMC?". Forbes. Retrieved July 1, 2009.
^Lyons, Daniel (November 26, 2001). "Crony Capitalism". Forbes. Retrieved October 23, 2009.
^Gregory Huang (July 8, 2014). "For EMC, Three Acquisitions Lead to Three Big Products". Xconomy. Retrieved July 11, 2014.
^"EMC Reports 43% Growth in Storage Revenue, First $2 Billion Quarter". EMC Company Website. July 19, 2000.
^"EMC to be new sponsor of London Wasps". August 20, 2009.
^"Michael Ruettgers Bio". Forbes. Archived from the original on October 2, 2013. Retrieved September 26, 2013.
^ ab"High-Tech Veteran Michael Ruettgers Joins Gigamon's Board of Directors". Press Release. Gigamon. Archived from the original on October 2, 2013. Retrieved September 26, 2013.
^"Why EMC Employees Are Forming a 'Pop-Up' Union to Take Down Noncompetes".
^"With EMC change, will Bay State be free to compete with Silicon Valley?".
^PCMag Staff (April 12, 2021). "The Biggest Tech Mergers and Acquisitions of All Time". PCMag. Retrieved April 28, 2022.
^"Dell to Buy EMC for $67 Billion". The Wall Street Journal. Retrieved October 12, 2015.
^"In Takeover of EMC, Dell Makes Ambitious Bet". The New York Times. October 12, 2015. Retrieved October 12, 2015.
^"Dell agrees $67bn EMC takeover". BBC News. Retrieved October 12, 2015.