EMC To Acquire Virtustream
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Stifel Positive on EMC's (EMC) Move to Acquire Virtustream; Company Now Positioned as Public Cloud Service Provider
May 26, 2015 2:18 PM EDTStifel affirms EMC Corp. (NYSE: EMC) with a Buy rating and $33 price target following news that the company would move to acquire Virtustream for about $1.2 billion.
Analyst Aaron C. Rakers offered the following conclusion: Although the size of the acquisition is likely to be a point of investor debate ($1.2 billion, or up to 10x revenue in a competitive bidding process), we are positive on the long-term strategic merits of this acquisition... More
EMC Corp. (EMC) to Acquire Virtustream in ~$1.2B Deal
May 26, 2015 8:02 AM EDTEMC Corp. (NYSE: EMC) announced it has entered into a definitive agreement to acquire privately-held Virtustream. When the transaction closes, Virtustream will form EMC's new managed cloud services business. The acquisition represents a transformational element of EMC's strategy to help customers move all applications to cloud-based IT environments. With the addition of Virtustream, EMC completes the industry's most comprehensive hybrid cloud portfolio to support all applications, all workloads and all cloud models.
Virtustream CEO Rodney Rogers will report to Joe... More