A PYMNTS Company

China: grants clearance for Dell-EMC merger

By  |  August 31, 2016

Dell Tuesday said it received regulatory clearance from China and intends to complete its merger with EMC on Sept. 7. The $60 billion deal will be the largest technology merger ever.

Approval from China’s Ministry of Commerce was the last remaining hurdle to the deal, which was approved by EMC shareholders on July 19.

The newly combined company, to be named Dell Technologies, aims to be a one-stop shop for information technology sold to businesses.

Dell hopes to make the combined company a favored supplier in the rapidly growing market for cloud computing, where companies tap software programs via the internet.

Dell will face intense competition from Amazon.com Inc.’s Web Services unit, the leader in the market. Amazon Web Services is so far ahead in the cloud market, some analysts have questioned Dell’s ability to compete.

Full Content: The Wall Street Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.