New York -  Dell is buying data storage company EMC in a deal valued at approximately $67 billion.

Shareholders of EMC Corp. will receive about $33.15 per share, which includes cash plus tracking stock linked to part of EMC’s economic interest in the VMware business. That’s a 19 percent premium to EMC’s Friday closing price of $27.86.

Cloud computing company VMware Inc., a subsidiary of EMC, will stay an independent, publicly traded company.

Since going private in 2013, Dell Inc. has been investing in research and development and growing its software and services business as those in the technology industry continue to struggle with soft PC sales.... Read More: VIN