Dell is looking for a buyer for its 85% share of SecureWorks Corp, a U.S. provider of cybersecurity services. Its market value is close to $2 billion. This became known on Thursday.
In fact, SecureWorks has a debtհ in the amount of $50 billion, after it decided to become a publicly traded company last year through a complex deal involving its software subsidiary VMware Inc. So a sale of this company would help the latter in trimming its debt, though we don’t know how it will save the situation. The source that didn’t want to be disclosed said SecureWorks is working with investment bank Morgan Stanley on a sale process. None of these parties agreed to comment.
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As for SecureWorks, the Atlanta-based company offers information security solutions aimed at protecting corporate networks from cyberattacks to 4,300 clients in more than 50 countries. At least, the official website claims it’s so.
Dell acquired this company for $612 million in 2011. In December last year, Dell became a publicly traded company following a $23.9 billion deal to buy back shares tied to its interest in VMware. The latter was bought by Dell for $67 billion in 2016 when it purchased buy data storage company EMC, which owned a majority stake in VMware.
Dell founder Michael Dell has decided to transform his company from a PC manufacturer into a broad seller of information technology services. Among the latter, we can mention storage spaces, servers, networking, security, etc.
Honestly, Dell has been transforming into another type of company long ago. That’s why it’s been selling many of its non-core assets in the past. Say, in 2016, it sold its software division in order to buy Francisco Partners and Elliott Management Corp for more than $2 billion. The latter increased its stake in Dell to about 5.6% earlier this month.