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...The two made a big bet more than a decade ago when they took personal computer company Dell Technologies private. Dell Technologies then acquired tech conglomerate EMC for $67bn in 2016....
...Three years later, they used privately held Dell to buy technology conglomerate EMC, which owned 81 per cent of VMware, for $67bn, then a record tech takeover....
...The pair first took Dell Technologies private in 2013 at a $25bn valuation. In 2015, Dell Technologies acquired software company EMC for $67bn. EMC at the time held a majority stake in VMware....
...Whereas Ellison took on leverage slowly, Dell launched into a series of debt-fuelled buyouts — first of his own PC company, then of storage giant EMC and the software company it controlled, VMware....
...The Menlo Park-based investment group is best known for partnering with personal computer billionaire Michael Dell on the $24bn buyout of his eponymous PC company in 2013, then acquiring EMC Corporation...
...Dell’s share price has lost a quarter of its value in 2022....
...“Our competitors are 20 years old or more — companies like PureStorage, Dell EMC, and NetApp. They started way, way, way before us, but they have built their solutions for a different world....
...When Dell’s eponymous tech group acquired data storage provider EMC in 2016 for $62bn, EMC’s crown jewel asset was its supermajority stake in VMware....
...EMC....
...Dell kept VMware independently managed with a 19 per cent stake listed on public markets, but combined the remainder of EMC inside his bigger enterprise technology mothership Dell Technologies....
...When the PC billionaire’s computer empire faced obsolescence, Dell teamed up with Silver Lake private equity dealmaker Egon Durban to first take his company private, then buy technology conglomerate EMC...
...It was the same setting where, seven years earlier, he charmed EMC’s then chief executive Joseph Tucci to sell the tech conglomerate — and owner of VMware — to Dell Technologies for $67bn....
...of technology conglomerate EMC....
...Beginning with the buyout of his PC company, Dell went on to devour server and storage company EMC for $67bn, before taking the group public again in 2018....
...VMware has been public since 2007, when it was controlled by parent EMC. That storage titan was acquired by privately held Dell in 2016 for $67bn....
...EMC in 2017....
...JPMorgan financed all of the debt and its chief executive Jamie Dimon personally vouched for Dell to get his EMC deal done....
...Dell was carrying $34bn in net debt at the end of January, a legacy of its complex $67bn acquisition of storage company EMC in 2016....
...Early in his tenure, it faced an activist threat from activist Elliott, then became the critical asset in Dell Technologies’ $67bn takeover of EMC in 2016....
...Dell spins off $64bn VMwareIn one of the largest corporate spin offs, Dell Technologies will shed its 81 per cent stake in publicly traded VMware, creating an independent software company with a stock market...
...Elliott has organised more than $30bn in buyouts in 2022 alone, while Silver Lake was an architect of Michael Dell’s $67bn takeover of EMC in 2016....
...The technology company, founded by Michael Dell, announced plans on Wednesday to sell its 81 per cent stake in VMware, the cloud computing business it acquired when it bought data storage maker EMC for about...
...Dell’s stake in high-flying VMware came through the 2016 purchase of another large tech vendor, EMC. A portion of VMware remained public....
...One, Data Domain, was sold to the storage company EMC for $2.4bn after a bidding war with Dell, while the other, ServiceNow, has become one of the most highly-valued cloud software companies, at $65bn....
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