Data center News
CEO Michael Dell To Short-Term Dell Investors: 'You Came To The Wrong Company'
Dell Technologies Chairman and CEO Michael Dell may be on the verge of bringing his namesake company back to the public market, but the long-term focus he espoused when the conglomerate was privately held won't change, he said during an appearance on CNBC Monday.
Dell, who started the company in his University of Texas dorm room, took it public 30 years ago, and then private in a $25 billion transaction in 2013, said his commitment to the long game hasn't changed. "We can continue to invest for the long term, and that is absolutely what we intend to do," he said.
The Round Rock, Texas, company announced Monday that it would go public through the exchange of its tracking stock tied to the performance of VMware for common shares of Dell itself. The transaction nevertheless leaves the chief executive in control of the company, thanks to the special shares he and ownership partner Silver Lake Partners hold. Dell will continue to own about 81 percent of VMware, which will remain an independent, publicly traded company. Dell's stake in VMware came as part of its blockbuster 2016 acquisition of data storage giant EMC.
Here are a few highlights, including Dell's take on the global economy and business conditions, from his CNBC interview.