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Dell returns to the public market after a five-year stay as a private company
In the $ 21.7 billion deal announced Monday, the company PC and data storage proposes to exchange tracking shares for a new clbad of shares, simplifying the complex property structure that is still owned primarily by founder Michael Dell.
Investment firm Silver Lake and Michael Dell made the decision to privatize Dell Technologies Inc. in 2013 as the company struggled, looking for a range of freer moves. away from Wall Street and investors.
Dell, like all PC makers, was hit hard as people switched laptops, tablets and other mobile devices. Although private, Dell has strengthened its financial position, posting revenue growth of 19 percent in its last quarter. He loses more money, half a billion in the same period, but these losses decrease
In privatizing, Michael Dell said that the company was returning to "the spirit of d & # 39; 39 "enterprise" on which it was founded
. Data growth is fueling the digital age of computing, and we are uniquely positioned with our portfolio of technologies and services to enable digital, computer, security, and workforce transformations. the work of our customers, "Dell said in a statement this year, Dell Technologies announced that it was undergoing a major strategic review and that it could re-enter the sphere while potentially purchasing the rest of the VMware professional software provider that it did not already own.
Michael Dell, who owns 72% of the common shares of the company, will remain as chairman and chief executive officer of the company. Silver Lake will retain its minority stake of 24%
Dell, in its early years, focused on commercial customers, but that changed in the late 1990s when it was atti a large number of technicians who wanted more customization options for PCs. Soon, the company in Round Rock, Texas, took it to Gateway, IBM and Compaq, becoming the largest PC manufacturer in the world, while its rivals were in trouble. "Dude, you get a Dell", the company's marketing campaign, covered the US airwaves in 2000.
By the end of the decade, however, Dell was losing market share to its competitors in Asia and he was threatened by Google. Android devices and the Apple iPad
Dell evolved into networking and continued to explore artificial intelligence and 5G technology
According to the agreement announced on Monday, clbad V shareholders can choose $ 109 in cash for every share they hold. 1.3665 Clbad C common stock. Clbad C shares will be listed on the New York Stock Exchange
VMware Subsidiary will issue $ 11 billion dividend, with $ 9 billion to Dell
Transaction requires acquiescence on the part of clbad V shareholders.
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