Dell is reportedly preparing to announce its deal with EMC Corp. on Monday. The deal is described to be the biggest acquisition in the technology industry worth roughly $65 billion or $33.15 per share.

The data storage company is also set to announce the merger deal on Monday, people familiar to the matter told the New York Times. The acquisition of EMC will be beneficial to Dell especially that the company wanted to expand its services to include computer data storage.

"We're continuing to evolve the company into the most relevant areas where I.T. is moving," Dell CEO Michael Dell said in an interview with the New York Times. "This deal just accelerates that."

Dell is expected to go into huge debt, up to $45 billion, yet its investors and financial backer Silver Lake are pushing through with the ambitious deal. After all, the acquisition is expected to increase Dell's price tag to up to $77 billion, according to Forbes.

Aside from a higher valuation, acquisition would also make Dell the third highest revenue-maker in enterprise technology, after Hewlett-Packard and IBM.

"The merger/acquisition of EMC by Dell makes a lot of strategic sense for Dell. EMC, thanks to VMWare, has positioned itself as a player in the growing cloud and big data industry, handling terabytes of clients' data via product and service offerings," Aija Leipon, associate professor at Cornell's Dyson School of Applied Economics and Management, said in an email to the USA Today.

The deal seems to be all set for both Dell and EMC.

However, EMC is still planning to seek for new buyers and Dell has agreed to let the company go as long as a breakup fee is settled. People familiar to this agreement told Reuters that IBM, Cisco, and Hewlett-Packard are potential buyers.