Tuesday, 17 September, 2019

Dell is claimed to be contemplating strategic choices together with IPO

Dell Technologies founder and CEO Michael Dell.   Justin Sullivan  Getty Images Dell Technologies founder and CEO Michael Dell. Justin Sullivan Getty Images
Russell Knight | 26 January, 2018, 16:39

The board is meeting later this month and will discuss its options, said the people, who asked not to be identified because the talks are private.

"A Dell IPO would be welcomed if it happened and there would be a very good response to it".

Dell is reviewing a list of several possible acquisition targets that would boost its cash flow and expand its offerings, the sources said.

The companies declined to comment.

And this means that Dell needs funding, and is therefore said to be considering a public share sale for its Pivotal Software cloud-computing venture. It may also consider a transaction with its majority-owned VMware Inc, a virtualization software maker.

VMware shares, which have gained more than 62% in the past 12 months, touched an all-time high yesterday.

And it pointed out that the acquisition of EMC also failed to deliver the cost savings and performance Dell had originally projected.

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The company has struggled with fierce competition in the storage market, as cloud-based rivals such as Amazon.com Inc's AWS and Microsoft Corp's Azure put pressure on prices.

Dell for its part is remaining tight lipped about the matter.

Indeed, it is thought that Dell is now sitting on a $52.5 billion debt pile, and this is expected to become more troublesome this year when United States tax reforms kick in. Back in 2016, Dell acquired EMC Corporation for a whopping $67 billion. According to data compiled by Bloomberg, Dell Technologies has about $46bn (£32bn) of debt. That includes about $3 billion of bonds maturing in 2018 and $4.35 billion due next year while the company also has loans outstanding, the data shows.

The move to consider strategic alternatives like an IPO comes five years after Dell Technologies founder and CEO Michael Dell completed the largest private equity buyout in history taking Dell private in a $25 billion deal.

Dell has reportedly already met with bankers past year to discuss that possibility and was told the company could fetch a valuation of $5 billion to $7 billion.

A stock market listing for Dell would allow Silver Lake to gradually begin selling down its stake.

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