EMC Corporation

EMC Corporation (stylized as EMC²) was an American multinational corporation headquartered in Hopkinton, Massachusetts,[2] which sold data storage, information security, virtualization, analytics, cloud computing and other products and services that enabled organizations to store, manage, protect, and analyze data. EMC's target markets included large companies and small- and medium-sized businesses across various vertical markets.[3][4]

The company's stock (as EMC Corporation) was added to the New York Stock Exchange on April 6, 1986,[5] and was also listed on the S&P 500 index. EMC acquired Iomega in 2008,[6]

History

EMC, founded in 1979 by Richard Egan and Roger Marino (the E and M of EMC),[11] introduced its first 64-kilobyte (65,536 bytes) memory boards for the Prime Computer in 1981.[12][13] 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.[14]

While some of EMC's growth is credited to acquisitions of smaller companies,[15] 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.[16]

In 2009 EMC signed a two-year deal to be the principal shirt sponsor for English Rugby Union club London Wasps[17] in a deal worth £1 Million. This was later extended until the end of the 2013 season.

Michael Ruettgers joined EMC in 1988 and was CEO from 1992 until January 2001.[18] 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.[19] Ruettgers was named one of BusinessWeeks "World's Top 25 Executives"; one of the "Best Chief Executive Officers in America" by Worth magazine; and one of Network Worlds "25 Most Powerful People in Networking".[19]

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)[20][21]

Acquisition by Dell

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.[22] 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.[23][24][25]

On September 7, 2016, Dell Inc. completed the merger to form Dell Technologies,[26]

type	Public
foundation	August 1979
traded as	(1986–2016)‡R1R‡
founders	Richard Egan Roger Marino
defunct	September 2016
fate	Acquired by Dell Inc., forming Dell Technologies
location city	Hopkinton, Massachusetts
location country	United States
area served	Worldwide
industry	Information technology
revenue	US$41.224 billion (2021)

History

Acquisition by Dell

Products and services

Major acquisitions

Big data projects

See also

External links

References