Joe Tucci, chairman and CEO of EMC, will remain in those roles until the deal is complete. FBR analyst Daniel Ives said the deal means Dell is "no longer your grandma's PC company." "It's a landmark, historic deal that really brings them into the enterprise market and makes them a behemoth," Ives wrote in a Monday note. The deal had been rumored for weeks. EMC, based in Hopkinton, Massachusetts, makes data storage equipment and provides other IT services to companies. It also has an 80 percent stake in cloud-computing company VMware Inc ., which will stay an independent, publicly traded company. EMC has been facing tough competition in the storage sector as companies including Amazon, Microsoft and IBM have stepped up cloud storage offerings. Forrester analyst Glenn O'Donnell said the deal is good news for EMC and its customers. "Speculation has been somewhat scary for them, but Dell is a trusted player and a low-risk 'soft landing' for these customers," he said. It's a good move for Dell too, he added.