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EU Clears Dell’s Blockbuster EMC Acquisition

February 29, 2016

Michael Dell, founder and CEO of Dell Inc., onstage during the 2015 Dell World Conference in Austin, Texas, U.S., on Wednesday, Oct. 21, 2015. Dell World gathers business leaders, technologists, developers and designers to share ideas, stories and practices that guide innovative thinking. Photographer: Matthew Busch/BloombergMichael Dell, founder and CEO of Dell Inc., onstage during the 2015 Dell World Conference in Austin, Texas, U.S., on Wednesday, Oct. 21, 2015. Dell World gathers business leaders, technologists, developers and designers to share ideas, stories and practices that guide innovative thinking. Photographer: Matthew Busch/Bloomberg

(Reuters) – The European Commission said on Monday it had cleared Dell‘s planned $67 billion acquisition of data storage company EMC (EMC).

Dell unveiled the deal in October last year, the largest ever in the technology industry sector, and designed to enable it to better challenge rivals Cisco Systems, IBM and Hewlett-Packard in cloud computing, mobility and cyber security.

The Commission said that the merged entity would have a moderate market share in external enterprise storage systems and would still face strong competition.

In virtualisation software, EMC’s VMware had a strong position, the Commission found, but would have neither the ability nor the incentive to shut out competitors.

Reuters reported on Feb. 18 that the deal was set to be cleared.