Dell announced it will buy the cloud computing company EMC for about $67 billion in cash and stock, a deal which marks the largest one of its kind on record in the technology sector, CNBC reported.
EMC stockholders will get about $33.15 per share in cash and a type of stock linked to the firm's VMware business, which will remain independent.
The move helps Dell diversify from the PC business to the more lucrative and fast growing market for managing and storing data for businesses, according to CNBC.
It comes two years after Michael Dell took the company he founded private along with the private equity company Silver Lake.
