1st of November 2021 has been a milestone for the two tech giants, as Dell Technologies has officially spin-out its 81% majority stake in VMware to Dell shareholders.
The spin-off from Dell Technologies provides VMware enhanced freedom to implement and deliver its multi-cloud strategy, a more simplified capital structure and governance model, and additional operational and financial flexibility. VMware will continue to use Dell Financial Services to help its customers finance their digital transformations.
As per Raghu Raghuram, VMWare’s CEO, “VMware’s mission is to deliver the trusted software foundation that accelerates our customers’ innovation. As a standalone company, we will continue to bring our multi-cloud strategy to life by providing our customers the power to accelerate their business and control their destiny in this new era.”
In an official Investors Press Release, DELL’s Chairman and CEO comments that “Today marks an important milestone for both Dell and VMware. We are unlocking significant value for stakeholders, while maintaining our close partnership in sales, support and innovation for our customers”.
Read VMWare Official Press Release: https://news.vmware.com/releases/vmware-announces-completion-of-spin-off-from-dell-technologies
Read DELL Technologies Official Press Release: https://investors.delltechnologies.com/news-releases/news-release-details/dell-technologies-announces-completion-vmware-spin