News & Resources

EMC Shareholders Vote Strongly In Favor Of Merger With Dell

Companies To Combine Pending China Regulatory Approval

Story Highlights

  •       EMC shareholders today approved the merger agreement with Dell.
  •       The transaction is expected to close on the original terms and within the originally announced timeframe.

HOPKINTON, Mass. , July 19, 2016 –

EMC Corporation (NYSE:EMC) announced that, based on a preliminary vote tally from the Special Meeting of Shareholders held earlier today, EMC shareholders approved the merger agreement among Denali Holding Inc., Dell Inc., Universal Acquisition Co., and EMC, and approved the other two proposals described in EMC’s proxy statement relating to today’s meeting.

Approximately 98% of voting EMC shareholders cast their votes in favor of the merger, representing approximately 74% of EMC’s outstanding common stock as of the record date for the special shareholder meeting. The final results will be available on a Current Report on Form 8-K, to be filed later this week by the company.

The transaction is expected to close on the original terms and within the originally announced timeframe, subject to regulatory approval from China and satisfaction of customary closing conditions.

Joe Tucci, EMC Chairman and CEO, commented, “Today’s resoundingly favorable shareholder vote clearly supports our view that combining Dell and EMC will create a powerhouse in the technology industry. The Board and I care very deeply about, and have worked diligently to represent, what we believe is the best outcome for all stakeholders. I want to thank our shareholders for their support, as well as our customers and partners.  My special thanks to the talented people of EMC for their hard work, dedication and passion.”

Resources

For more information about Dell and EMC combining visit http://www.emc.com/futureready

About EMC

EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset — information — in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at www.EMC.com.

Press Contacts

Dave Farmer

(508) 293-7206

dave.farmer@emc.com

 

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EMC ranks high on Glassdoor
Joe Tucci makes top 10 CEO list
March 19, 2013

EMC continues to gain external recognition as a Great Place to Work—this time via Glassdoor.com, a fast-growing website that tracks employee sentiment at companies across the U.S. In a ranking announced on March 15, Joe Tucci was recognized by Glassdoor as one of the 10 most highly rated CEOs in the United States.

Headquartered in the Bay Area, Glassdoor is a public website that allows employees to share opinions about their company. “We know how important Glassdoor can be to great talent looking and evaluating employers,” says Tom Murray, EMC VP of Global Talent Acquisition. “It’s a mandatory stop for those who use social media to understand what it’s really like inside a company like EMC.”

The recognition of EMC and its senior leadership is a direct result of input from Glassdoor users. Joe Howell, Director of Global Employer Brand & Engagement at EMC, says, “This recognition ties closely to what we recently learned in our Great Place to Work employee survey—that EMCers have an incredibly high regard for our senior leadership and the direction they are taking the company.”

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Cisco and EMC Deliver Premier Infrastructure Solution Running SAP HANA for Big Data

Cisco and EMC Announce Certification and Support for SAP HANA

SAN JOSE, Ca. and HOPKINTON, Mass. – June 7, 2012

News Summary:

  • Cisco Unified Computing System (Cisco UCS®) with EMC® VNX 5300 unified storage systems are now certified for the SAP HANA® platform.
  • Together, these technologies combine Cisco’s data center computing and networking technology with the EMC’s enterprise-class storage technology
  • The EMC Proven™ Solution provides industry-leading manageability, scalability and availability capabilities necessary for critical SAP® application-based environments.
  • Results in immediate access to vast amounts of information with SAP HANA’s reporting and analysis, enabling insights and visibility to speed business decisions.

Full Story:

Cisco and EMC today announced certification of Cisco UCS blades with EMC® VNX®5300 unified storage systems to run the SAP HANA® platform. Together, these leading Cisco and EMC technologies can substantially reduce business risk and further ensure that customers receive the scalability, high availability, disaster tolerance and continuous access required for their mission-critical information.

Validated through in-depth testing and analysis conducted by SAP AG, EMC, and Cisco, the certified solution enables customers to transform their business by harnessing the power of information to make real-time business decisions. By helping organizations act on information as it happens, SAP HANA helpscustomers dramatically increase the speed of their existingprocesses and allows for access to large amounts of data in shorter periods of time.

Cisco and EMC are working to address strong customer demand for infrastructure in support of SAP HANA. Cisco and EMC’s joint go-to-market activities include sales collaboration, channel partner enablement, collaborative technical services and support, integrated professional services, and marketing.  The integrated solution is now in limited availability globally.

Designed from the ground up with a “clean slate” approach, Cisco UCS is an integrated system, designed to optimize compute, networking, storage access, virtualization and management. UCS tapped into a powerful market demand for a new approach to computing, enabling IT organizations to unleash new business models with its innovative, integrated architecture.  Customers are able to reduce the time to deploy new applications, improve business agility and reduce costs. UCS is the first fabric computing platform that combines industry-standard, x86-architecture servers with networking and storage access into an integrated system.

 In an extensive survey of end users conducted by leading industry analyst firm IDC¹, EMC wasnamed the #1 storage choice for SAP solutions and other mission critical environments. The survey ranks storage vendors based on how endusers are deploying their technology with enterprise applications.  Results of the survey show that more customers choose EMC storage than any other storage for their SAP environments. EMC, as a leading information infrastructure provider for SAP solutions, provides customers running SAP HANA with the availability, protection, and automation needed to further enable real-time analytics to gain competitive advantage.

Designed to deliver proven Five-9’s availability, award winning VNX storage delivers end-to-end data integrity, multiple RAID options, and proactive global sparing and diagnostics. Advanced software suites provide local and remote data protection, application protection, security and compliance. The VNX series delivers leadership performance, efficiency, and simplicity for demanding virtual application environments. VNX optimizes application performance that span the leading set of enterprise applications, as well as the SAP HANA platform. EMC’s Unisphere® software provides a simple and intuitive interface for provisioning, monitoring and managing the VNX family.

EMC Executive Quote

Prasad Rampalli, Senior Vice President, EMC Global Solutions Group

“EMC, SAP and Cisco are continuing their close collaboration by integrating best-of-breed technologies and delivering an industry-leading solution in scalability, availability and performance for customers running SAP HANA. Today we are launching an “application-aware” infrastructure which addresses mission—critical requirements for IT to accelerate their adoption of SAP HANA in the enterprise. We are excited to be a key part of this inflection point in the industry with “in-memory” computing on EMC Cisco infrastructure establishing a new normal for time-to-information and making real-time business decisions.”

David Yen, Senior Vice President and General Manager, Data Center Business Group, Cisco

“As data volumes in the enterprise continue to grow exponentially, the need for businesses to react to business events more quickly through real-time analysis and reporting of operational data is becoming a strategic imperative. SAP’s HANA solution combined with EMC unified storage and Cisco’s easy to manage, highly-scalable UCS architecture delivers a highly innovative and agile infrastructure to meet the demanding performance needs of real-time analytics.”

Supporting Quotes:

Stefan Sigg, Senior Vice President, In-Memory Platform, SAP

“Through this latest announcement, we are entering the next phase in our strategic collaborations with EMC and Cisco. By teaming with key partners in our ecosystem, we can deliver the power of our disruptive innovations to customers, providing access to the best-of-breed technologies needed to harness the power of their information to create business value for their end users.”

About EMC

EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset — information — in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at www.EMC.com.


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EMC Leads External Disk Storage Systems Market for 15th Consecutive Year—Gains Market Share
Achieves 2X the Revenue and Captures 2X the Market Share of the Next Vendor, Analyst Firm, IDC Reports
HOPKINTON, Mass. – March 2, 2012

EMC Corporation (NYSE: EMC) remains the leading provider of external disk storage systems for the 15th consecutive year in factory revenue, according to the latest IDC Worldwide Quarterly Disk Storage Systems Tracker, March 2012. Additionally, EMC ended 2011 with more than 2X the revenue, and captured more than 2X the market share of the next closest vendors between 2010 and 2011. During the same period, EMC grew revenue at more than 2X the full market rate. In the fourth quarter of 2011 EMC grew worldwide external disk storage systems revenue by 22.4%, and gained 3.5 points of market share over the fourth quarter of 2010. The next two closest vendors were IBM, which lost 1.2 points, and NetApp, which gained less-than 1 point of market share.

EMC attributes this growth and sustaining leadership to delivering a range of new storage technologies and global adoption of EMC’s best-of-breed storage portfolio, helping customers transform their IT Infrastructures and maximize today’s market opportunities in cloud computing, Big Data, virtualization, and next-generation backup.

With the introduction of the VNX™ family in 2011, EMC delivered a formidable offering that far exceeds the capabilities of more narrowly focused storage vendors. The VNX family is complemented by EMC’s market-leading Backup and Recovery solutions, Symmetrix VMAX™ and VMAXe™ storage, Isilon™, and EMC Atmos.

EMC is delivering on its commitment to expand its service provider and partner ecosystems. Service providers around the world are increasingly adopting EMC storage as the backbone of their cloud service offerings. Additionally, in 2011 over 1,700 partners began selling EMC products for the first time, and revenue from these new partners in 2011 accounted for almost half of EMC’s channel revenue growth in 2011.

“EMC’s vision, strategy, and roadmap is in lock-step with two of the biggest trends in technology—cloud and Big Data,” said Pat Gelsinger, President and Chief Operating Officer, EMC Information Infrastructure Products. “EMC continues to invest, innovate and deliver technologies that help customers store, manage, protect, analyze and secure their information. We’re committed to helping customers improve business agility, lower costs and enhance their competitive advantage—within traditional data centers, virtual data centers, and cloud-based IT infrastructures.”

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EMC Reports Record Third-Quarter Revenue and Profit

Third-Quarter Highlights:

All-time record quarterly consolidated revenue – up 18% year over year
Record Q3 net income on a GAAP and non-GAAP basis – up 28% and 27% year over year, respectively
GAAP EPS up 23% year over year
Record Q3 non-GAAP EPS – up 23% year over year
All-time record quarterly gross margins on a GAAP and non-GAAP basis

Contact
Lesley Ogrodnick
508-293-6961
lesley.ogrodnick@emc.com

HOPKINTON, Mass. —October 18, 2011—EMC Corporation (NYSE:EMC) today reported record financial results for the third quarter of 2011. Continued strong worldwide customer demand for EMC’s information storage, security and virtualization products and services, balanced revenue growth and continued outstanding execution contributed to EMC achieving all-time record quarterly consolidated revenue and record third-quarter profit. The results were also highlighted by all-time record quarterly gross margins on a GAAP and non-GAAP basis and strong year-over-year increases in GAAP and non-GAAP operating margins.

Third-quarter consolidated revenue was $4.98 billion, an increase of 18% compared with the year-ago quarter. Third-quarter GAAP net income attributable to EMC increased 28% year over year to $606 million. Third-quarter GAAP earnings per weighted average diluted share increased 23% year over year to $0.27. Non-GAAP1 net income attributable to EMC for the third quarter was $822 million, an increase of 27% compared with the year-ago quarter. Third-quarter non-GAAP1 earnings per weighted average diluted share were $0.37, an increase of 23% year over year.

EMC’s cash flow generation continues to be strong, with trailing twelve-month operating cash flow of $5.0 billion and free cash flow2 of $3.8 billion. The company ended the third quarter with $9.3 billion in cash and investments.

Joe Tucci, EMC Chairman and Chief Executive Officer, said, “I am very pleased with EMC’s execution and solid third-quarter financial performance. Global customer demand for our industry-leading products and services, which led to record quarterly financial results, is clear evidence that EMC is at the center of the most transformative, disruptive and opportunity-rich trends in IT history – namely hybrid cloud computing and the explosion of Big Data. With the strategy, products and momentum in our favor, EMC remains extremely well positioned to help customers accelerate their journey to the cloud, discover the value of Big Data and transform IT into a source of greater efficiency, agility and control.”

David Goulden, EMC Executive Vice President and Chief Financial Officer, said, “The priorities we have outlined in our financial ‘triple play’– to gain market share, invest aggressively to take full advantage of the massive opportunities at the intersection of cloud computing and Big Data, and improve profitability – continue to guide us through 2011. We remain on track to exceed our full-year goal of $19.8 billion in revenue, GAAP EPS of $1.07 and non-GAAP EPS of $1.48. We are confident that our company strategy, disciplined investment approach and continued focus on execution, which have driven our success over the past several years, will continue to serve us well in the future.”

Third-Quarter Highlights
Third-quarter highlights included double-digit revenue growth for EMC Information Storage business, which increased 16% year over year. EMC’s high-end Symmetrix storage product portfolio increased revenue 7% compared with the year-ago quarter. EMC’s portfolio of mid-tier storage products3 grew revenue 28% year over year. Revenue from VMware (NYSE: VMW), which is majority-owned by EMC, increased 32% and revenue from EMC’s RSA Information Security business grew 16% year over year.

Additional third-quarter highlights included strong revenue growth for the EMC VNX unified storage family and the company’s Backup Recovery Systems. Revenue from EMC’s portfolio of Big Data solutions, which includes EMC Isilon, EMC Atmos and EMC Greenplum, more than doubled year over year. During the quarter, customers also continued to increasingly turn to EMC’s broad consulting and professional services portfolio to build out their cloud architectures and transform their IT. Finally, VCE, the Virtual Computing Environment Company formed by Cisco and EMC with investments from VMware and Intel, continued to gain momentum as customer demand increased for best-of-breed converged infrastructure through the Vblock Infrastructure Platform.

EMC’s consolidated third-quarter revenue from the United States reached an all-time record of $2.7 billion, an increase of 17% year over year, representing 54% of consolidated third-quarter revenue. Revenue from EMC’s business operations outside of the United States reached $2.3 billion, an increase of 20% year over year, representing 46% of consolidated third-quarter revenue. Within this, revenue from EMC’s Asia Pacific and Japan region reached an all-time quarterly record, growing 37% year over year. Revenue from EMC’s Europe, Middle East and Africa and Latin America regions increased 15% and 8% year over year, respectively.

Business Outlook
The following statements are based on current expectations. These statements are forward-looking, and actual results may differ materially. These statements do not give effect to the potential impact of mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. These statements supersede all prior statements regarding 2011 financial results.

All dollar amounts and percentages set forth below should be considered to be approximations.

Consolidated revenues are expected to exceed $19.8 billion for 2011.
Consolidated GAAP operating income is expected to be 16% to 17% of revenues for 2011 and consolidated non-GAAP operating income is expected to be 23% to 24% of revenues for 2011. Excluded from consolidated non-GAAP operating income are stock-based compensation expense, intangible asset amortization, restructuring and acquisition-related charges and an RSA special charge, which account for 4%, 2%, 0.5% and 0.5% of revenues, respectively.
Total consolidated GAAP non-operating expense, which includes investment income, interest expense and other income and expense, is expected to be $161 million in 2011 and total consolidated non-GAAP non-operating expense is expected to be $210 million in 2011. Excluded from non-GAAP non-operating expense are stock-based compensation expense of $7 million and a non-recurring gain on strategic investments of $56 million.
Consolidated GAAP net income is expected to exceed $2.4 billion in 2011 and consolidated non-GAAP net income is expected to exceed $3.3 billion in 2011. Excluded from consolidated non-GAAP net income are stock-based compensation expense, intangible asset amortization, restructuring and acquisition-related charges, an RSA special charge and a non-recurring gain on strategic investments, which account for $590 million, $225 million, $75 million, $56 million and ($29 million), respectively.
Consolidated GAAP diluted earnings per share are expected to exceed $1.07 for 2011 and consolidated non-GAAP diluted earnings per share are expected to exceed $1.48 for 2011. Excluded from consolidated non-GAAP diluted earnings per share are stock-based compensation expense, intangible asset amortization, restructuring and acquisition-related charges, an RSA special charge and a non-recurring gain on strategic investments, which account for $0.26, $0.10, $0.03, $0.03 and ($0.01) per diluted share, respectively.
The consolidated GAAP income tax rate is expected to be 21% for 2011. Excluding the impact of stock-based compensation expense, intangible asset amortization, restructuring and acquisition-related charges, an RSA special charge and a non-recurring gain on strategic investments, which collectively impact the tax rate by 1%, the consolidated non-GAAP income tax rate is expected to be 22% for 2011.
GAAP net income attributable to the non-controlling interest in VMware is expected to be $143 million and non-GAAP net income attributable to the non-controlling interest in VMware is expected to be $205 million for 2011. Excluded from non-GAAP net income attributable to the non-controlling interest in VMware are stock-based compensation expense, intangible asset amortization, acquisition-related charges and a non-recurring gain on strategic investments, which account for $58 million, $10 million, $1 million and ($7 million), respectively. The incremental dilution attributable to the shares of VMware held by EMC is expected to be $15 million for 2011.
The weighted-average outstanding diluted shares are expected to be 2.235 billion for 2011.
Consolidated net cash provided by operating activities is expected to be $5.4 billion for 2011, and free cash flow is expected to be $4.0 billion in 2011. Excluded from free cash flow are $950 million of additions to property, plant and equipment and $450 million of capitalized software development costs.
EMC expects to repurchase $2 billion of the company’s common stock in 2011.

Supporting Resources
EMC will host its third-quarter 2011 earnings conference call today at 8:30 a.m. ET, which will be available via webcast on EMC’s Investor Relations website at http://www.emc.com/ir
Visit http://ir.vmware.com for more information about VMware’s second-quarter financial results.

About EMC
EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset — information — in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at www.EMC.com.