Did EMC Drop Out of the Bidding for EqualLogic?
I had lunch today with a storage industry entrepreneur who suggested that EMC had likely been in the bidding, but dropped out before the price reached $1.4 billion. He also speculated that this could mean the end of EMC's partnership with Dell; Dell's reseller arrangement with EMC accounts for about 16 percent of EMC's storage revenue. The official word from EMC is that there will be no changes to the Dell partnerhship.
Goldman Sachs just downgraded EMC from a "Buy" to "Neutral."
EMC chief executive Joe Tucci gave this interview in October in which he vowed to catch up to the competition by early 2008. Which is coming soon.
Labels: acquisitions, Charles River Ventures, Dell, Don Bulens, EMC, EqualLogic, Joe Tucci, Sigma Partners
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