The murmurs have now been consummated with Dell making the EMC acquisition of what would be the largest tech purchase in recent history at $67 billion (RM280 billion). In the agreement Dell Inc. and EMC Corporation have signed a definitive agreement under which Dell, together with its owners, Michael S. Dell, founder, chairman and chief executive officer of Dell, MSD Partners and Silver Lake, will acquire EMC Corporation, while maintaining VMware as a publicly-traded company.

Michael Dell will lead both the company while EMC CEO will retire soon after, the final details of the deal will conclude in 2016 and is of course subject to regulatory approval. The transaction creates a potentially attractive high-growth area of a $2 trillion IT market with complementary product and solutions portfolios, sales teams and R&D investment strategies. Both company will be able to leverage on each other who are already strong in areas like Servers, Storage, Virtualization and PCs – and also be able to bring together their strong capabilities in fast growing areas like Digital Transformation, Software Defined Data Center, Hybrid Cloud, Converged Infrastructure, Mobile and Security. .

Here’s an excerpt from an open letter Michael Dell wrote to his customers:

“The company will be financially strong. We are bringing together Dell’s strength in small-business and the mid-market with EMC’s strength in large enterprises. Together, we can serve you better and fuel innovation across our end-to-end portfolio of solutions and across customer segments to generate significant cash flows. In fact, the expected revenue synergies of our combination are three times the cost synergies. This union is all about opportunity, growth and innovation for us and for you. We will be positioned to meet our obligations and continue to invest for the long term success of your organization.”