It’s Official: Dell Is a Privately Owned Company

Dell Computers is now officially private, and the company's current product lineup will remain the same -- at least for now. The completed deal, made official Tuesday, sold the computer company to CEO and founder Michael Dell and investment firm Silver Lake Partners for $24.9 billion.

The deal had been approved by shareholders last month, following resistance and counter-offers by some shareholders led by financier Carl Icahn, who contended that the deal was unfair to them. The buyers are paying $13.75 per share.

CEO Dell has said that taking the company private can give management more flexibility in determining how it should move forward, as it tries to survive what some have described as this post-PC era. Since it no longer needs to answer to Wall Street, that line of thinking goes, the company will have more leeway to make the changes and long-term investments it needs.

75 Percent

Dell owns 75 percent of the company and will remain as company chairman and CEO. The company made its name in the PC market, but has suffered as the world of personal computing moves away from PCs. Gartner, for instance, has reported that demand for PCs dropped 11 percent in the second quarter, only the latest of a series of declines. In August, the company reported $14.5 billion in revenue for its second quarter, which represented a whopping 72 percent drop in net income.

The company will continue to market to both consumer and enterprise markets, which increasingly overlap on the user end. In September, Dell unveiled new laptop models while winnowing the variety it was offering, and earlier in October it launched new Venue tablets for Android and Windows 8.1.

Recently, the company said it would continue its central focus on the midmarket, and is expanding its worldwide reach of more than a dozen...

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