Michael Dell, the founder and chief executive, of the eponymously named firm, will take the company private in a deal with Silver Lake, a global high-tech investment firm, reports the Los Angeles Times.
Microsoft will invest $2 billion into the deal to support “the long-term success of the entire PC ecosystem,” according to statement released by the high-tech giant. Mr. Dell, who started the company at the age of 19 in his parent’s garage, expressed optimism on the future of largest maker of personal computers.
"I believe this transaction will open an exciting new chapter for Dell, our customers and team members," Michael Dell said in a statement. "We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise. Dell has made solid progress executing this strategy over the past four years, but we recognize that it will still take more time, investment and patience."