Dell stock spikes over 7% after it says it's considering spinning off VMware - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Dell said Wednesday it may spin off VMware, the software powerhouse it acquired five years ago in the EMC merger.Dell said the plan would benefit shareholders, customers and partners of both companies, but would not happen before September 2021 to minimize federal tax implications.

However, Dell said it is also considering other options, including maintaining its ownership of VMware.Dell is considering splitting from VMware, just five years after the tech giant acquired the enterprise software powerhouse. The Texas tech giant announced Wednesday that it is exploring "a potential spin-off of its 81% ownership" of VMware which it bought in 2015 through a merger with EMC. VMware had been owned by the data storage company.

Dell's acquisition of EMC and VMware transformed it into a bigger tech player, but the transaction saddled the company withDell said a spinoff could be beneficial to both Dell and VMware shareholders, customers and partners. But such a move would not happen before September 2021 in order "to qualify as tax-free for US federal income tax purposes.

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