Share rose in Dell Technologies and VMware on Tuesday after a report that the onetime personal computing leader was exploring a sale of its stake in the software and cloud computing firm.

The two firms are traded separately, but Dell -- which owns a majority stake in VMware -- is considering selling its shares, which could fetch an estimated $50 billion, the Wall Street Journal reported.

The report said Dell, which has undergone a series of changes in strategy since its success in the PC market in the 1990s and early 2000s, is also considering buying the shares in VMware it does not already own.

Dell shares jumped 18 percent in after-hours trade on the report, with VMware up nine percent.

A deal could help Dell reduce its debt accumulated as part of a reorganization that saw it go public in 2018, five years after a private equity buyout.

Founder Michael Dell has been seeking to re-energize the firm, which fell behind when consumers turned to mobile devices instead of PCs.

VMware offers a range of software and cloud computing services, competing against rivals such as Amazon and Microsoft for business clients.

bur-rl/to

VMWARE

MICROSOFT

AMAZON.COM

Related Links
Satellite-based Internet technologies

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

New chips to bring Mac computers into iPhone ecosystem
San Francisco (AFP) June 22, 2020
Apple said Monday it would build its own chips to power its Mac computers to create a "common architecture" that allows the devices to run the same apps as those on the iPhone and iPad. The news came at the annual Apple developer conference - a virtual event due to the coronavirus pandemic - where the tech giant announced a series of product updates including details of its upcoming iOS 14 software powering its popular handsets. The new "Apple silicon" initiative ends a longstanding partnersh ... read more