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Dell Technologies Inc. reports developments across enterprise information technology, including commercial personal computers, workstations, data-center hardware, storage systems and services for AI workloads. Company news commonly covers portfolio updates such as Dell Pro notebooks, Dell Pro Precision workstations, Dell Pro Max systems, monitors and client peripherals, as well as AI infrastructure offerings built around the Dell AI Factory with NVIDIA, the Dell AI Data Platform and Dell Data Lakehouse architecture.
Recurring updates also address partnerships and integrations with technology vendors, cybersecurity and cyber-resilience capabilities, storage platforms including ECS, ObjectScale and PowerScale, and management presentations on financial strategy. Corporate governance items may include proxy-related matters and incorporation-governance proposals tied to the company's public-company structure.
Dell Technologies has completed the spin-off of its 81% stake in VMware Inc., distributing 30,678,605 shares of VMware Class A and 307,221,836 shares of Class B stock to its shareholders as of October 29, 2021. Each Class B share was converted to Class A prior to distribution. Dell will receive $9.3 billion from VMware's special cash dividend of $11.5 billion to reduce its debt. Both companies will maintain a commercial agreement for co-development and sales alignment while pursuing growth independently in the data era.
Dell Technologies (NYSE: DELL) announced a special dividend distribution of VMware shares for stockholders, with a final ratio of 0.440626 shares of VMware Class A for each Dell share held as of 5:00 p.m. ET on October 29, 2021. The expected completion date for this distribution is November 1, 2021. Additionally, fractional shares will be compensated in cash. This move signals Dell's continued efforts to enhance shareholder value and manage its portfolio strategically.
VMware (NYSE: VMW) announced a collaboration with eero, an Amazon company, to enhance work-from-home capabilities. This partnership will integrate eero 6 series mesh Wi-Fi systems with VMware's SASE Work from Home solution to improve remote connectivity and security. As a result, employees will benefit from reliable Wi-Fi across their homes and advanced security features. The initiative aims to deliver a seamless experience for remote workers across the U.S.
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Dell Technologies unveiled the new XPS Desktop, featuring enhancements that make it the most powerful model yet. It measures nearly 42% larger than its predecessor, boasting 12th Gen Intel Core processors (up to i9) and advanced graphics options from NVIDIA and AMD. The desktop's cooling system is redesigned, making it up to 21% cooler under load and 50% quieter than previous generations. The customizable architecture allows for easy upgrades over time. The XPS Desktop will be available later this fall with Windows 11.
VMware has announced advancements to its Telco Cloud Platform, aimed at accelerating service providers' multi-cloud transformations and monetizing 5G services. Key enhancements include the introduction of the VMware Telco Cloud Platform – Public Cloud and VMware Telco Cloud Platform – Edge. These solutions enable seamless integration of public clouds, consistent operations across various environments, and support for automation and network slicing. Over 150 communication service providers globally utilize VMware's platform to enhance operational efficiency and time to market for new services.
VMware (NYSE: VMW) has announced advancements in its Radio Access Network (RAN) portfolio, focusing on the introduction of the VMware RAN Intelligent Controller (RIC) aimed at facilitating the transition to Open RAN. VMware RIC will enable developers to create applications that enhance network performance and operational flexibility. The platform includes both Centralized and Distributed RICs, offering various functionalities for service providers. VMware's partnership with Aspire Technology aims to streamline RAN testing. Key features include superior performance, operational consistency, and cost reduction for service providers.
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Dell Technologies (NYSE: DELL) has approved a special stock dividend for its shareholders, distributing approximately 81% of its VMware shares. Shareholders of record by October 29, 2021, will receive about 0.44 VMware shares for each Dell share they hold. The distribution date is set for November 1, 2021, and the transaction aims to be tax-free for U.S. federal income tax purposes. No action is needed from shareholders to receive these shares. Additional details will be provided in an information statement around October 21, 2021.
VMware has set October 29, 2021 as the record date for a conditional special dividend of $11.5 billion, payable to stockholders as part of its spin-off from Dell Technologies. This special dividend will be distributed pro-rata upon meeting certain conditions outlined in the Separation and Distribution Agreement. The payment date is scheduled for November 1, 2021, with an ex-dividend date of November 2, 2021. Tax implications indicate that approximately 39.49% may be treated as taxable dividend income.