PCR Tech and IT retail, distribution and vendor news
Dell has emerged successful from its £2.4 billion attempt to acquire IT service group Perot.
The global computer manufacturer said its Perot buyout would “significantly expand Dell’s enterprise-solutions.”
The all cash deal is expected to be sealed sometime between November and January.
Dell’s £2.4 billion valuation of Perot will give shareholders as much as $30 per share, a generous 68 per cent premium on the company’s closing share price on Friday.
Dell CEO Michael Dell defended the seemingly munificent takeover bid.
"We consider Perot Systems to be a premium asset with great people that enhances our opportunities for immediate and long-term growth," he said.
Perot – based near Dell’s Texas HQ – specialises in IT support systems for public services, such as hospitals, government departments, and banks.
“The acquisition makes such great sense because of the obvious ways our businesses complement each other,” added Dell.
The move has sent shockwaves through the struggling IT sector, which is currently bereft of many takeover deals due to widespread pessimism in the sector. Just one month ago Dell reported that its second quarter profit sat at $12.8 billion, a 23 per cent decline from the year prior.
