Dell Technologies to spin off its ownership stake in VMWare
CNN
After months-long negotiations, Dell Technologies announced Wednesday it plans to spin off its 81% ownership stake in VMWare.
The move will create two separate companies and generate around $9 billion in proceeds for Dell. Dell (DELL) said in a statement that the two firms will maintain their "mutually beneficial strategic relationship and continue to co-engineer solutions for customers." The news sent Dell's stock soaring as much as 9% in after-hours trading.
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