Dell said to acquire VMware's US$17 billion tracking stock

Founder Michael Dell has been mulling a variety of options to streamline his multi-company tech empire

Chairman and Chief Executive Officer Michael Dell has been looking at a variety of options to streamline the world’s largest private technology company. Photo: EPA

Dell Technologies Inc. will buy out its tracking stock to give it greater control over VMware Inc., a person familiar with the matter said. While VMware will remain independent for now, the move could make it easier for Dell to buy out the rest of the software maker later on.

Dell, the world’s largest private technology company, could announce as soon as Monday a proposed share swap to acquire the DVMT tracking stock, currently valued at about US$17 billion, said the person, asking not to be identified discussing a private matter. VMware’s total market value is about $60 billion. Spokesmen for Dell and VMware declined to comment on the news, which was reported by The Wall Street Journal and other media earlier on Sunday.

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