Dell announced this afternoon that it was spinning off VMware, a move that has been suspected for some time. Dell acquired VMware as part of the massive $ 58 billion (announced as $ 67 billion) acquisition of EMC in 2015. The deal provides for Dell to give VMware shareholders a special dividend of between $ 11.5 and $ 12 Wants to offer billions of dollars. Since Dell owns approximately 81% of that stock, that would put it in the range of $ 9.3 billion to $ 9.7 billion that will flow into Dell’s coffers when the deal closes later this year.
Read how Dell uses VMware to generate a whopping $ 9 billion from Tech Crunch.
For more information, see: VMware and Dell Technologies.