HOPKINTON, Mass., July 9, 2015 /PRNewswire/ -- EMC Corporation
(NYSE: EMC) today announced it has completed the acquisition of
Virtustream. Virtustream represents a transformational element of
EMC's strategy to help customers move all applications to
cloud-based IT environments. The all-cash transaction is expected
to have no material impact to EMC financial results in 2015 and is
expected to be additive to revenues and accretive to EPS in 2016.
Operational details of the new EMC Federation business formed by
Virtustream will be announced later this quarter.
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.
EMC2, EMC, and the EMC logo are registered trademarks
or trademarks of EMC Corporation in the
United States and other countries. All other trademarks used
herein are the property of their respective owners.
Forward-Looking Statement Legend
This release contains "forward-looking statements" as defined
under the Federal Securities Laws. Actual results could
differ materially from those projected in the forward-looking
statements as a result of certain risk factors, including but not
limited to: (i) adverse changes in general economic or market
conditions; (ii) delays or reductions in information technology
spending; (iii) the relative and varying rates of product price and
component cost declines and the volume and mixture of product and
services revenues; (iv) competitive factors, including but not
limited to pricing pressures and new product introductions; (v)
component and product quality and availability; (vi) fluctuations
in VMware, Inc.'s operating results and risks associated with
trading of VMware stock; (vii) the transition to new products, the
uncertainty of customer acceptance of new product offerings and
rapid technological and market change; (viii) risks associated with
managing the growth of our business, including risks associated
with acquisitions and investments and the challenges and costs of
integration, restructuring and achieving anticipated synergies;
(ix) the ability to attract and retain highly qualified employees;
(x) insufficient, excess or obsolete inventory; (xi) fluctuating
currency exchange rates; (xii) threats and other disruptions to our
secure data centers or networks; (xiii) our ability to protect our
proprietary technology; (xiv) war or acts of terrorism; and (xv)
other one-time events and other important factors disclosed
previously and from time to time in EMC's filings with the U.S.
Securities and Exchange Commission. EMC disclaims any
obligation to update any such forward-looking statements after the
date of this release.
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SOURCE EMC Corporation