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Home > Cloud Computing > VMware and Dell reached agreement regarding spin-off

VMware and Dell reached agreement regarding spin-off

VMware and Dell Technologies have agreed to terms in which VMware will be spun-off from the company.

Erdem Yasar by Erdem Yasar
April 17, 2021
in Cloud Computing
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Dell Technologies announced that the company will spin-off 81% equity ownership of VMware. The terms of the agreement include significant simplification to the corporate ownership structure and an $11.5B to $12.0B special cash dividend recommended by the independent Special Committee and declared by the VMware Board to all VMware stockholders immediately prior to the spin-off and subject to the satisfaction of all closing conditions.

81% equity ownership

Zane Rowe, chief financial officer and interim chief executive officer, VMware
Zane Rowe, chief financial officer and interim chief executive officer, VMware

The duo has also finalized a commercial agreement that preserves and enhances their strategic partnership. The spin-off will provide VMware increased freedom to execute its strategy, a simplified capital structure and governance model and additional strategic, operational, and financial flexibility. It also includes simplifying capital allocation decisions and eliminating the current dual-class stock structure. Zane Rowe, chief financial officer and interim chief executive officer, VMware, said,

“We will have an enhanced ability to extend our ecosystem across all cloud vendors and on-premises infrastructure vendors and a capital structure that will support growth opportunities. Our strategic partnership with Dell Technologies remains a differentiator for us, and, as we execute on our multi-cloud strategy, we continue to provide customers our solutions and services on any public cloud and any infrastructure.”

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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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