Dell, the world's third-largest maker of personal computers, is in talks to buy cloud computing company EMC.

Reuters first reported that Dell was in talks with banks about raising debt financing for an all-cash offer for EMC. The terms of the negotiations were not immediately known, Reuters said, adding that EMC had a market capitalization of about $50 billion as of Wednesday's close.

CNBC has confirmed the talks.

If the deal went through, it would be one of the biggest tech tie-ups ever, topping U.S. chipmaker Avago Technologies' $37 billion offer for rival Broadcom. That deal is still in process.

The Wall Street Journal, which first reported the deal talks, said EMC had started a strategic review of its business last year. Reuters reported that EMC had been under pressure from activist investor Elliott Management, which had lobbied for EMC's VMWare software business to be spun off.

