VMware completed its spin-off from Dell Technologies. The move provides VMware increased freedom to execute its multi-cloud strategy, a simplified capital structure and governance model, and additional operational and financial flexibility. VMware and Dell said they will continue to partner with each other and to continue support/services to mutual customers.
“VMware’s mission is to deliver the trusted software foundation that accelerates our customers’ innovation,” said Raghu Raghuram, chief executive officer, 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 terms of the spin-off included an $11.5 billion special cash dividend hat 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.
