And I thank our valued customers for their trust, business, and friendship. But I also recognize the need for change, and size, coupled with focus of mission, and capabilities, matter! I believe that this transaction will put EMC and our terrific people in the best position possible to thrive in the new world order.
In the past 25 years, we have transformed from a storage start-up to a global technology leader with more than 70, people. An incredible feat! During that period, we have seen good times, tough times, and yes even great times. And now we are entering a new era, where the entire information technology industry is experiencing massive disruption, while simultaneously being presented with unprecedented opportunity.
To keep us growing and thriving through the truly historic changes that are gripping our industry, and to help assure we capitalize on the vast opportunity before us, we decided that creating a new company with Michael Dell, an industry colleague and noted leader, and the team at Silver Lake is the best way to position EMC for success going forward. Additionally, it brings together strong capabilities in the hottest IT trends, including digital transformation, the software-defined data center, hybrid cloud, converged infrastructure, mobile and security.
The combined company will be far more efficient and effective to operate as a private company, giving us the ability to incubate and develop new products and solutions necessary to capitalize on the opportunities I just mentioned. The new company will have more freedom to invest for the long-term, an increased focus on our customers and, very importantly, the ability to attract and retain the best and brightest people. We are very excited by this opportunity, while being able to reward our EMC shareholders in such an attractive way.
The EMC Federation has created great momentum in the market place which we expect to accelerate. We see significant synergies between Dell and our Federation companies, especially VMware, which will continue to operate as a public company led by Pat Gelsinger. Paul and I are very happy with the progress Rob has made in the short time he has been CEO and Pivotal is making great strides in the marketplace.
I believe they are well on their way to becoming a public company at some point in the not too distant future. By , Symmetrix became the leading server-agnostic or Enterprise Storage system, the first to support simultaneously mainframes and Unix and NT servers.
December EMC takes the lead in the mainframe storage market. EMC's vice president of engineering, Moshe Yanai, is way ahead of me. EMC's storage systems are high-capacity, already up into the terabytes thousands of gigabytes. Yanai said that EMC's push into networking is all about economies of scale and "storage consolidation. OK, now listen to this: Yanai's worry, which he explained with a graph drawn in my notebook, is whether, after the perfection of "atom-manipulation" disk technology, the demand for information storage will be able to keep up with the supply of high-capacity disks.
Yes, Yanai asked me to reassure him that the Internet is going to have uses for all the storage capacity that EMC is working to make available It's NFS that has yet to be shipped. EMC found doing a media server "easy.
Extranets will require big servers. And as electronic commerce ramps, those servers will have to be reliable and fast. As millions of consumers get involved, video will be required.
April EMC introduces TimeFinder business continuance software, allowing customers to non-disruptively create multiple copies of their production data to be used for a variety of purposes such as backups, Year testing, Euro Currency conversion, data warehouse loading, and application development.
He says Egan and Ruettgers epitomize a new CEO-centric selling model that has started to pervade the high-tech sector, a model that put CEOs of high-tech companies in constant touch with customers. Founded in , it developed the first minicomputer based on integrated circuit technology, and, in , introduced the CLARiiON disk storage system. November EMC enters the storage area network SAN market, making it easier to connect multiple storage devices to multiple servers via Fibre Channel networking technology.
I think our focus on a single business actually helps us stay ahead of the curve. In some respects, this runs counter to what I learned in business school, where the prevailing wisdom was to diversify. For example, our perspective allowed us to see that the computer industry had, in some ways, lost sight of its reason for being. The company faced terrific challenges as the minicomputer business collapsed, but it moved into the open-storage business about the same time we did.
It had an excellent storage product and a relatively good position in certain segments of the storage marketplace. Still, its executives were never willing to give up their other business until we acquired them, even though their minicomputer revenue was declining and they understood their opportunities were on the storage side.
August EMC announces an agreement to acquire Rainfinity, a provider of virtualization solutions for heterogeneous networked attached storage NAS and file system environments. July EMC acquires Greenplum, provider of big data analytics software.
March EMC announces it has acquired Pivotal Labs, a privately-held provider of agile software development services and tools.
May EMC announces an agreement to acquire privately-held Virtustream, a provider of cloud software and services. October 12, Dell Inc.
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