Dell Confirms Plan to Look at IPO, VMware Business Combination
By Allison Prang
Dell Technologies Inc. formally disclosed in a regulatory filing Friday its board "is evaluating potential business opportunities" which include going public, combining business with VMware Inc. or staying as is.
Chief Executive Michael Dell said in the filing that "nothing has been decided and alternatives are just being considered at this stage."
The Wall Street Journal reported on Dell's intended plans last week.
Dell owns a 82% stake of VMware, a cloud infrastructure company based in California. VMware Chief Executive Pat Gelsinger said in prepared remarks Friday the company is "not in a position to speculate on the outcome of Dell's evaluation."
For Dell, an IPO would bring the company into familiar territory. Founder Michael Dell along with Silver Lake Partners took the company private in October 2013. Silver Lake still has a large stake in the tech company.
Dell, based in Round Rock, Texas, bought EMC, a data-storage business, in 2016. It is considered the biggest takeover in the tech industry.
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(END) Dow Jones Newswires
February 02, 2018 10:12 ET (15:12 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.