Michael Dell on EMC acquisition: Tech is 'the change-or-die business'

This is a 'change or die' business: Michael Dell
This is a 'change or die' business: Michael Dell

Michael Dell told CNBC on Wednesday his company's acquisition of EMC will allow for new infrastructure and software to power the digital future.

Dell completed its acquisition Wednesday for $67 billion, forming the world's largest privately controlled tech company. Dell Technologies said it will pay EMC shareholders $24.05 per share. The company said it now serves 98 percent of the Fortune 500 "and comprises several market leading businesses."

"Our company will comprise a set of unique businesses," Dell Technologies' CEO said on "Squawk Box." "Roughly $74 billion in revenue, 140,000 people around the world, the essential infrastructure company combining Dell, EMC, VMware, Virtustream, RSA, Pivotal, Secureworks."

Dell said the company is interested in growth and has invested billions in research and development and patents.

"One of the interesting things about the Dell-EMC combination is that we don't have a lot of overlap," he said. "There are two businesses that we've already announced that we are selling to other firms."

Additionally, he said that technology companies are characterized by the changes they make and companies have to adapt.

"[Tech] is the change-or-die business," he said. "We absolutely know that."

The company said it will publicly report its financial results despite being privately held.