Dell acquires Perot Systems for $3.9 billion
Dell has agreed terms on its latest and largest ever acquisition, fellow Texan company Perot Systems.
Dell is set to acquire IT services company Perot Systems for approximately $3.9 billion (2.39 billion).
The announcement, made yesterday, will see Perot become Dell's services unit, led by current chief executive Peter Altabef.
The cash deal of $30 per share means Dell is paying a 68 per cent premium on the company's stock price at close of play Friday.
Michael Dell, chairman of the board and Dell's chief executive, said in a statement: "This significantly expands Dell's enterprise-solutions capabilities and makes Perot Systems' strengths available to even more customers around the world."
He added: "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."
The terms of the agreement were given the thumbs up from both boards of directors although the deal is not expected to be complete until sometime between November and January.
"This transaction represents a great opportunity for our company and our associates," added Ross Perot Junior, chairman of the board at Perot Systems and son of the company's founder, in a statement.
"Today's announcement is the next step in formalising a relationship that has flourished for some time."
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