Michael Dell, founder and CEO of Dell, which holds about 14 percent of the shares of the company, joined Silver Lake in this transaction. Microsoft has also partnered through a loan of $ 2 billion. The transaction, which is subject to approval by the U.S. regulator and shareholders, is expected to be closed before the end of the second fiscal quarter of Dell, which ends in July 2013.
After the transaction, Michael Dell will continue to lead the company as CEO. It will also maintain a significant stake in the company by investing its own shares in the new company formed, but also making an investment "substantial" cash (which is said to come from his personal fortune).
I believe this transaction will open an exciting new chapter for Dell, our customers and team members. We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise.
Dell has made solid progress executing this strategy over the past four years, but we recognize that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision.
I am committed to this journey and I have put a substantial amount of my own capital at risk together with Silver Lake, a world-class investor with an outstanding reputation. We are committed to delivering an unmatched customer experience and excited to pursue the path ahead.
Dell, which has long been one of the largest PC manufacturers worldwide, has struggled lthe past years. Before this new partnership, the share of the company has lost about a third of its value over the last year. The fact that Dell tried to attract new customers outside its traditional market, the pc, ie providing products and services to companies on networking and storage, has not really given any gain. Also, the company has made several acquisitions in recent years, although it says will continue to do so.
The company said it remains committed to the PC market. Dell and its rival rival Hewlett-Packard are both struggling to compete with new Asian rivals like Lenovo and Asus. End of 2011, Lenovo surpassed Dell in terms of sales to become the second largest supplier of PC. But as Michael Dell stated, the fact of leaving the Stock Exchange will give the company time to recover.
Following the announcement of Dell, its rival HP, has cracked a laconic comment indicating that he will do everything possible to divert Dell customers. This is a good war.