As expected, US computer maker Dell has found a vast amount of money and bought enterprise storage company EMC for US$67 billion ($100 billion). Well, hopes to buy, because there's a possibility some other suitor will offer EMC an even sweeter deal than Dell over the next two months.
That's the biggest tech deal ever: it's not far off half New Zealand's gross domestic product, which apparently hit just under $230 billion last year. If the deal is finalised, it would create an entity, run by Michael Dell, which today has combined revenue of US$75 billion and more than 200,000 staff worldwide.
The two companies have been close in the past, having had a partnership meant to last a decade but which ended two years early in 2011 - and strangely enough, EMC has been on the Dell (the company) shopping list since 2002, but any deal has been blocked by Michael Dell (the founder).
Several justifications have been bandied about to explain why Dell is prepared to spend such a huge amount on EMC. The best one seems to be that borrowing money is really cheap and there's plenty to go around, as demonstrated by the amount put on the table by Dell.