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.
“This significantly expands Dell’s enterprise solutions capabilities, and makes Perot Systems’ strengths available to even more customers around the world,” Michael Dell, chairman of the Board and CEO of Dell, said in a statement. “There will be efficiencies from combining the companies, but the acquisition makes such great sense because of the obvious ways our businesses complement each other.”
Subject to customary approvals and conditions, the transaction is expected to close in Dell’s November-January fiscal quarter.
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