Deals
EMC’s $1.2 Billion Virtustream Deal Furthers Cloud Strategy
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EMC Corp. agreed to buy Virtustream Inc. for about $1.2 billion, letting clients of the storage-systems maker run products from Oracle Corp., Microsoft Corp. and SAP AG in the cloud.
When the deal closes, the Virtustream business will become EMC’s managed-cloud services division. Virtustream Chief Executive Officer Rodney Rogers will report to EMC CEO Joe Tucci, the companies said in a statement Tuesday.