EMC completes deal for Virtustream
Data storage giant EMC Corp. of Hopkinton has completed its $1.2 billion acquisition of Virtustream Group Holdings, which has been viewed as a “game changer” intended to enhance EMC’s cloud-based services.
EMC announced the all-cash deal in May for the Bethesda, Md.-based firm. Virtustream is a privately held company whose products will be delivered directly to customers through EMC's global partners, EMC said in May. Virtusteam will retain its name, becoming a wholly owned subsidiary of EMC.
When the deal was announced in May, EMC’s CEO, Joseph Tucci, called Virtustream “an exceptional company” whose acquisition represents “a critical and transformative acquisition for EMC in one of the industry's fastest-growing and most important sectors.”
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