Dell to acquire EMC in $67 bln deal

Dell Inc. said Monday it would acquire EMC Corp. in a transaction valued at about $67 billion. EMC’s board has approved the merger. The deal includes new common equity from Michael S. Dell, MSD Partners, Silver Lake and Temasek, the issuance of tracking stock, as well as new debt financing and cash on hand. Mr. Dell and related stockholders will own about 70 percent of the company’s common equity. Michael Dell will lead the combined company as chairman and CEO while Joe Tucci will continue as chairman and CEO of EMC until the transaction closes.


Biondi joins Avaya

Avaya said Monday that Steve Biondi has joined as vice president, Global Partner Organization. Biondi most recently held the position of senior vice president and Global Group Executive – ISV and OEM Sales at Oracle. Helping Biondi is a team including: Joe Lohmeier, who recently assumed the role of vice president Worldwide Core Channels; Dino Marasco as vice president Worldwide Service Providers/System Integrator Channels and Nurali Jamani as vice president for Worldwide Distribution. Avaya is a portfolio company of Silver Lake and TPG.


UBS taps Goldman Sachs’ Justicz as MD

UBS has named Max Justicz as a managing director in its Americas Financial Sponsors group, the company announced today in a memo. Justicz will join UBS in the fall and be coming from Goldman Sachs. There he has served as primary coverage banker for various private equity firms and their portfolio companies that include Carlyle, CVC Capital, BC Partners, Permira, Riverstone, Silver Lake, Jordan, New Mountain Capital, Oak Hill and CCMP Capital.

VC-backed HYLA appoints Nair as president and CEO

Texas-based HYLA Inc, a provider of mobile device trade-in and reuse solutions, has named Biju Nair as president and CEO. Previously, Nair worked at Synchronoss Technologies, Inc where he served as executive vice president and chief corporate strategy officer. Nair’s appointment as president of HYLA was made earlier this year. HYLA’s backers include Kleiner Perkins Caufield & Byers, Silver Lake and OpenAir Equity Partners.


peHUB First Read

First Read helps you through the post-holiday hangover with news tech purchases on Black Friday shoot up despite declining retail sales, the Supreme Court will consider Facebook threats case and Twitter plans to peek at your apps to serve you targeted ads.


Silver Lake explores sale of IPC Systems: Reuters

Private equity firm Silver Lake Partners LP is looking to sell IPC Systems Inc, a provider of communication systems for Wall Street traders, to exit one of its longest-held investments, according to people familiar with the matter.


Carlyle LPs to share in collusion suit settlement costs: Buyouts

The Carlyle Group’s $115 million settlement of a lawsuit that alleged it colluded with other buyout shops to depress deal prices will be paid through a combination of Carlyle Partners IV fund capital, insurance, balance sheet capital, and contributions from some employees of the firm.

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