IT’S business as usual for EMC Philippines Corp. as it waits for the acquisition deal to be formally closed between the company and Dell Inc., according to EMC Philippines’s country manager.
“The acquisition has not been closed, it will have to go through necessary board and regulatory approvals,” Ronnie Latinazo said in a news briefing last week. “We’re looking at end Q2 [second quarter] to early Q3 [third quarter] for the whole deal be closed. Until then it’s really business as usual.”
Michael S. Dell announced in October the company named after him would buy EMC for $67 billion, the largest deal in technology history.
“The transaction is subject to customary conditions, including receipt of required regulatory and EMC stockholder approvals,” Dell said in a statement. He added the transaction is expected to close in the second quarter or third quarter of Dell’s fiscal year ending February 3, 2017 (within the months of May to October 2016). Once the merger is completed it will be the largest privately owned technology company globally “estimated to be worth about $80 billion,” Latinazo said on December 3 in a news briefing.
There’s “no effect yet,” he added when asked about how the acquisition will affect EMC’s local operations.
Latinazo shared that when the deal was confirmed, it was announced that Dell CEO Michael Dell will take over as head of the combined Dell-EMC enterprise and will be headquartered in Austin, Texas. However, it was also announced that an enterprise group will be formed that will be headquartered in Massachusetts where EMC is currently headquartered and that group will be headed by the CEO for EMC Information Infrastructure David Goulden, Latinazo explained. He said he remains optimistic that together, the two companies will become a stronger player in the market.
“If you look at the two companies, we’re highly complementary. Now we will have services, desktops, storage—end to end of infrastructure. And we’re practical leaders in both of them. In terms of market that’s also complementary. Dell is known to consumer and small and medium-businesses, while EMC is always known in the enterprise.” Latinao said the combined companies “will serve the end-to-end market.”