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TECHNOLOGY

Dell buys Perot Systems for 3.9 billion dollars

Text by: NEWS WIRES
2 min

US computer giant Dell announced on Monday it had acquired computer services firm Perot Systems, founded by Texan billionaire Ross Perot, for almost four billion dollars. Perot ran for US president in 1992 and in 1996.

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AFP - Computer giant Dell announced Monday it has acquired computer services firm Perot Systems, founded by Texas billionaire Ross Perot, for 3.9 billion dollars.

"Dell and Perot Systems have entered a definitive agreement for Dell to acquire Perot Systems in a transaction valued at approximately 3.9 billion dollars," Dell said in a statement.

Terms of the agreement were approved Sunday by the boards of directors of both companies, it said.

Dell, which is seeking to buy all ordinary shares of Perot Systems at 30 dollars a share, hopes to finish executing the deal by the end of January.

Perot Systems then would become Dell's services division under Peter Altabef, the current Perot Systems chief executive officer.

"At the same time, Dell directors are expected to consider Ross Perot Jr., Perot Systems' chairman of the board, for appointment to the Dell board," the statement added. Perot's father, Ross Perot, was an independent presidential candidate in 1992.

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