Dell buying EMC in a transaction valued at about $67 billion

NEW YORK (AP) — Dell is buying data storage company EMC in a deal valued at about $67 billion, a move that will transform the PC company into a major player in the data storage market.

The acquisition cements the focus by Dell, once a pioneer in the personal computer business, away from hardware like PCs to the more profitable areas of storage and other business services.

Since going private in 2013, Dell Inc. invested in research and development and expanding its software and services business as those in the technology industry continue to struggle with soft PC sales.