HOPKINTON, Mass. (MyFoxBoston.com) - Dell announced Monday that in a $67 billion deal, it is buying data storage company EMC.
EMC is based in Hopkinton and employs nearly 10,000 people. EMC said it expects to grow its business, and keep the combined headquarters in Massachusetts. The company couldn't guarantee that there wouldn't be any job losses, but it expects to double in size.
Products and Marketing President Jeremy Burton said the goal is to put both EMC and Dell together and come out stronger than ever.
"Michael Dell was here today and he made it very clear that he intends to move the server business from Dell and combine that with the storage business here at EMC," said Burton.
In a statement Monday, Gov. Charlie Baker said that Dell is committed to "driving business development and talent attraction by strengthening the state's diverse technology ecosystem. EMC has been an anchor of the Massachusetts technology economy for decades, and the administration is optimistic that the newly combined Dell-EMC enterprise systems unit will have a robust presence locally for years to come."
Michael Dell will serve as chairman and CEO of the combined business. The deal isn't finalized yet - it still needs approval from EMC shareholders. It is targeted to close by February of 2017.
Dell Inc.'s headquarters will stay in Round Rock, Texas.
Read more in the EMC news release announcing the deal.