Looking to expand its services business, server giant Dell Inc. has signed an agreement to acquire Perot Systems Corp. for $3.9 billion in cash.

Under the terms of the agreement, Round Rock, Texas-based Dell will pay $30 per share for all outstanding shares of Plano, Texas-based Perot. The deal pairs Dell’s strength in servers and networking with Perot’s strength in IT services and consulting. Upon completion of the deal, Perot Systems will become Dell’s services unit and be led by current Perot Systems CEO Peter Altabef. Perot Systems Chairman of the Board Ross Perot Jr. is expected to gain a seat on Dell’s board.

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