Included in that partnership was a financing program to Perot’s healthcare clients through Dell Financial Services. Officials say the combined company represents $8 billion in services revenue.Įarlier this year, Dell and Perot announced a strategic alliance to provide full integrated IT solutions to healthcare organizations seeking to qualify for federal stimulus funding through the American Recovery and Reinvestment Act (ARRA). Once the acquisition is completed, Perot will become Dell’s services unit and be led by Peter Altabef, Perot’s current CEO.
Under terms of the deal, Dell will begin a tender offer to acquire all of Perot’s outstanding Class A common stock for $30 per share in cash. 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.” “This significantly expands Dell’s enterprise-solutions capabilities and makes Perot Systems’ strengths available to even more customers around the world. “We consider Perot Systems to be a premium asset with great people that enhances our opportunities for immediate and long-term growth,” added Michael Dell, Dell’s CEO and board chairman. The new, larger Dell builds on that promise and its own successes by taking Perot Systems’ expertise to more customers than ever.” When my father founded Perot Systems he envisioned a global information-technology leader. “Today’s announcement is the next step in formalizing a relationship that has flourished for some time. “This transaction represents a great opportunity for our company and our associates,” said Ross Perot Jr., Perot’s chairman of the board. Earlier this year, the company hired a new mergers and acquisitions chief from IBM, and it has raised almost $1 billion in debt since March. The company is the second-largest maker of personal computers, behind Hewlett-Packard, and has reportedly been eyeing several healthcare-related investments for some time. The deal marks Dell’s continued effort to expand into computer services.
Perot, based in Plano, Texas, provides a wide range of IT services, including applications, technology, infrastructure, business processes and consulting. The acquisition, approved on Sunday by the boards of directors of both companies, is valued at roughly $3.9 billion and gives the Round Rock, Texas-based computer company an even larger foothold in healthcare. Just two weeks after announcing the launch of its own electronic medical records platform, computer giant Dell has acquired IT solutions provider – and fellow Texas company – Perot Systems in a deal worth almost $4 billion.