Worcester Business Journal

www.wbjournal.com March 14, 2016 • Worcester Business Journal 5 Dell-EMC merger gets European clearance The $67-billion acquisition of EMC by Dell has been cleared by the European Commission, paving the way for the largest IT merger in U.S. history. The EC gave the acquisition of EMC by Dell unconditional clearance. This decision follows another recent win for the purchase with the U.S. Federal Trade Commission raising no issues with the acquisition. The Dell-EMC combo, which will retain EMC subsidiary VMware, will be the most expensive technology merger in history when the deal closes, beating the $25-billion sale of Compaq Computer to Hewlett-Packard in 2002. Fitchburg co. buys 'less-lethal' product maker for $4M Security Devices International Inc., the Fitchburg maker of rubber bullets and other less-lethal projectiles used by military and police forces, has entered into an agreement to purchase another less-lethal company for $4.14 million. The purchase of the Target will open up SDI to its numerous contracts, con- tacts and its critical federal and state licenses held for manufacturing and export purposes. SDI will use these for its own future growth. The proposed acquisition also permits SDI to control its supply chain, as well as to offer a more extensive training platform for existing and potential agencies. North Central Massachusetts wants better Internet The North Central Massachusetts Chamber of Commerce is calling for greater investments in its area's Internet infrastructure, during a time where the city of Worcester is expanding its own broadband network. The board of directors at the chamber, which represents Fitchburg, Leominster and the surrounding areas, recently said it wants cable and broadband in the region to be deemed a critical infra- structure, so the state can help pay for upgrades and issue economic develop- ment grants. The chamber also said it wants more choices in Internet service providers for residents and businesses and better cooperation between service providers, the business community, and the government. Centage Corporation secures $13.5M in VC funding Natick's Centage Corporation has received $13.5 million in venture capital funding that will allow for continued expansion of its products and marketing. The Natick provider of budgeting and forecasting software for small and medi- um-sized businesses completed Series A funding from TVC Capital, a San Diego- based firm focused on business critical software firms. Also participating in the round was Northgate Capital. The funding will help the company move forward with expansion of its Budget Maestro suite of products, and will advance the market for that product. >> Continued from previous page REGIONAL BRIEFS REAL DEALS Real Deals highlights recent commercial property transactions in Central Massachusetts. Commercial real estate firms that want to submit information on transactions can send it to editorial@wbjournal.com. Source: Kelleher & Sadowsky Associates, Worcester County Property Records ADDRESS: 398 Belmont St., Worcester AREA: 5,100 sq. ft. SALE PRICE: $825,000 SELLER: D Hoffman RE, LLC BUYER: Dancing Penquin Partners — Compiled by Sam Bonacci, Worcester Business Journal digital editor The buyer is planning to move its insurance agency into the location and renovate the remainder of the building to lease to a tenant. VMware president leaves for VC firm The president and COO of VMware stepped down from his position to join the VC firm of Sequoia Capital in a con- tinuing exodus from the cloud storage company. The announcement from VMware that Carl Eschenbach has left to "pursue a new career opportunity" was clarified by multiple news outlets to mean the second in command at the company was leaving for Sequoia Capital by multiple news outlets. Eschenbach, who joined the company in 2002 and was in charge of global sales and marketing, will con- tinue as strategic adviser to CEO Pat Gelsinger, the VMware Board of Directors and the executive team, according to a release from VMware. The move is just the latest in ongoing shake-ups and layoffs at the company, a subsidiary of EMC Corp., which is itself in the process of being acquired by Dell. In January, it was announced that 800 VMware employees would be laid off and that Jonathan Chadwick, the com- pany's chief financial officer, chief oper- ating officer and executive vice presi- dent, was leaving the company. VMware has filled the roles left open by Eschenback. Maurizio Carli has been promoted to executive vice president of worldwide sales, and Peter McKay will lead the Americas field organization moving forward. Ray O'Farrell has been promoted to executive vice president. n

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