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After contentious private equity buyout, Dell becomes publicly traded firm

The move comes after a 2013 private equity buyout led by Michael Dell aiming to revive the company that fell behind when consumers turned to mobile devices instead of PCs

AFP/PTI  |  San Francisco 

Dell Technologies

Dell, the one-time leader in personal computers and tech industry stalwart, after contentious buyout, will become a publicly traded firm. On Monday said, it will become a publicly traded firm after five years.

The company announced a stock swap deal with its that will result in a reorganized that returns to the stock market, with founder retaining control as

The move comes after a 2013 buyout led by aiming to revive the company that fell behind when consumers turned to instead of PCs.

"I am proud to lead this great company into its next chapter as we continue to evolve and grow to the benefit of our customers, partners, investors and team members," said in a statement.

"Unprecedented data growth is fuelling the digital era of IT, and we are uniquely positioned with our portfolio of technologies and services." The new Dell is far from the maker of personal computers that helped ignite the personal computer market in the 1990s.

It acquired the group in 2016 for a whopping USD 67 billion and is a major player in software, security and in addition to its PC business.

Michael Dell, who currently owns 72 per cent of common shares, struck a deal with the firm Silver Lake to take the company private in 2013 in an effort to reorganize without pressure from public shareholders.

The move came amid fierce opposition from some shareholders led by billionaire investor Carl Icahn, who called the plan a "giveaway." trade on after completion of the deal, expected later this year, the company said.

First Published: Mon, July 02 2018. 22:01 IST
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