Dell Technologies confirmed it's considering a possible IPO or acquisition of the rest of VMware. The company made the statement in a filing with the US Securities and Exchange Commission, as it already owns 82 percent of VMware.
CEO Michael Dell said the company was in "excellent financial condition", having paid down some USD 10 billion in debt since its merger with EMC in 2016. The merger, which also included the initial stake in VMware, "has been a success". Dell said "Dell Technologies’ value proposition of being 'number 1 in everything all in one place' is resonating with customers, partners and industry analysts," he said.
VMware CEO Pat Gelsinger said the company is not in a position to speculate on the outcome of Dell’s evaluation of potential business opportunities. VMware lead director Paul Sagan said the board will continue to follow sound corporate governance practices with any potential transaction involving its controlling stockholders.
