EMC’s New Mission: Mobile, Cloud, Big Data World
April 9, 2014
Grazed from Investors.com. Author: Reinhardt Krause.
When Joe Tucci took over as EMC chief executive in January 2001, he faced the challenge of reviving a company that took a big hit in the 2000-01 dot-com crash, with annual revenue falling to $5.4 billion in 2002 from $8.8 billion just two years earlier. The data storage system-maker’s customers were shifting to client-server computing and shared, networked resources. Tucci knew software innovation would be key.
EMC (EMC), based in Hopkinton, Mass., is still the information technology industry’s data storage leader. The firm owes much to what Tucci calls its "string of pearls" acquisitions, led by the jewel it bought in 2004 — VMware (VMW), an emerging force in client-server computing…
Tucci learned of VMware through a customer, insurance firm AXA. Palo Alto, Calif.-based VMWare’s virtualization software lets a computer server run different operating systems, perform complex tasks and share workloads. Server virtualization has boosted demand for storage area networks designed to share data. EMC upgraded its Symmetrix storage system with virtualization features to take advantage…
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