EMC to Buy Virtustream for $1.2 Billion to Expand Cloud Offerings | Re/code

Cloud consolidation continues

"Data storage products maker EMC said Tuesday it would buy privately held Virtustream for about $1.2 billion in cash to expand its cloud offerings.

EMC has been looking to strengthen its cloud services offerings as it struggles with slowing sales growth in its main data storage products business.

The company said Virtustream would operate as its new managed cloud services business after the transaction closes."

EMC to Buy Virtustream for $1.2 Billion to Expand Cloud Offerings | Re/code