This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

EMC Unveils Cloud-Computing Division

EMC (IBM) launched a new company to tap into growing demand for so-called cloud computing.

The company's new Dech unit will deliver "cloud" services -- sharing and storing information over the Web. Decho combines two separate EMC businesses; online backup specialist Mozy, and Pi, which stores personal data such as emails and files.

EMC's shares were up 5 cents to $10.12 in early trading, despite a broader slump in tech stocks which saw the Nasdaq slip 0.6%.

Companies such as IBM (IBM), Microsoft (MSFT), Cisco (CSCO), and Sun (JAVA), are all touting online cloud services as a way for customers to avoid the cost of expensive up front hardware and software purchases.

IBM, for example, recently launched a set of services for scheduling meetings, and developing online social networks, and Microsoft also unveiled a cloud-based version of Windows last month.

EMC, which spent $76 million to acquire Mozy last year, and snapped up Pi for an undisclosed fee in February, is finally fleshing out its long-term cloud storage strategy.

"There is an immense untapped business opportunity as personal information management inevitably migrates into the cloud," said David Goulden, EMC's chief financial officer, in a statement Monday.

Decho will use its own hardware and software infrastructure to store data from small businesses and individuals, which can be accessed via the Internet. Internet services such as Flickr are already widely used for the likes of photo-sharing, although EMC is looking to store a wealth of personal data, including photos, videos, personal documents, and financial records.

Stock quotes in this article: EMC 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs