The FINANCIAL — Dell Inc. (DELL) agreed to buy information-technology service provider Perot Systems Corp. (PER), long seen as a Dell target, for $3.9 billion. Once the purchase is complete, Perot (PER) will become Dell's (DELL, Fortune 500) services unit.
Dell, which had indicated its intention to step up acquisitions, said it would launch a tender offer to acquire all of the outstanding Class A common stock of Perot Systems for $30 per share in cash, Reuters reported.
With Perot, whose shareholders would get a 68% premium to Friday's closing price with the $30 offer, Dell will be able to bolster Dell's information-technology services portfolio and expand Perot's reach farther across the globe, according to The Wall Street Journal. Perot had been seeking to expand internationally to reduce its exposure to the U.S.
The deal is expected to be completed during Dell's fiscal fourth quarter ending in January. Perot will remain based in Plano, Texas, CNN Money gives information. Dell, based in Round Rock, Texas, said in its August earnings report that it expects stronger sales in the second half of the year, though it has seen sector-wide weak PC demand.
As AP reported Dell said Perot, founded by former presidential candidate Ross Perot, will expand the company's IT services offerings and widen the pool of potential customers for its computers.
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