Completion of Spin-Off of VMware from Dell Technologies

VMware, Inc. and Dell Technologies, Inc. announced the completion of the spin-off of VMware from Dell Technologies.

The spin-off provides VMware increased freedom to execute its multi-cloud strategy, a simplified capital structure and governance model, and additional operational and financial flexibility.

The terms of the spin-off included an $11.5 billion special cash dividend that resulted in a $27.40 per share dividend payment on November 1, 2021 to all VMware stockholders as of close of business on October 29, 2021. The ex-dividend date will be November 2, 2021, the first trading day following the payment date.

“VMware’s mission is to deliver the trusted software foundation that accelerates our customers’ innovation,” said Raghu Raghuram, CEO, VMware. “As a standalone company, we will continue to bring our multi-cloud strategy to life by providing our customers the power to accelerate their business and control their destiny in this new era.”

The 2 companies will continue to partner to provide differentiated solutions for their customers. The previously announced commercial agreement between them preserves and enhances the go-to-market synergies jointly developed over the last several years with continued support and services for their mutual customers.