Dell CEO Sees More Acquisitions, Investment in Third ‘Act’by and
Michael Dell, just weeks after completing his company’s massive merger with EMC Corp., said he plans to keep making acquisitions and investing, taking advantage of the freedom to make long-term bets as a closely held company.
“We see plenty of opportunity organically to consolidate,” Dell, chief executive officer of Dell Technologies Inc., said Wednesday in an interview on Bloomberg Television. “We’re going to continue to make acquisitions -- and alliances and partnerships are also important. We also have our ventures program where we are investing.”
Dell sees his company entering a new phase after the two big deals it’s undertaken in the past few years. “Act I” was going private in 2013, he said, and “Act II” was the recent merger with EMC. He declined to give a lot of details on "Act III," instead saying to wait and see.
The EMC deal, which created a company with more than $70 billion in revenue, brings together the leading provider of key computer storage products and one of the top makers of servers and personal computers. The combination was meant to address the rise of cloud-based services from rivals such as Amazon.com Inc., Microsoft Corp. and Alphabet Inc.’s Google.
Dell said the Round Rock, Texas-based company has a huge opportunity to find growth in the estimated $3 trillion industry. Despite the rise of public clouds, companies are seeking multiple options to run their technology systems, and Dell Technologies can play a key role in that, he said.
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“As a privately controlled company, your time horizon is very different,” he said at the Dell EMC World 2016 conference in Austin, Texas. “You re-imagine your business. You think about your business in years and decades.”