Round Rock-based Dell Technologies, Inc. is returning to the public trading market, effectively settling a move that began with merger conversations back in February.
According to a press release issued by the technology company Dec. 11, more than 61 percent of Dell shareholders voted in favor of returning the company to the public market.
“We appreciate our stockholders’ support. With this vote, we are simplifying Dell Technologies’ capital structure and aligning the interests of our investors,” Michael Dell, chairman and CEO of Dell Technologies, said in the Dec. 11 press release.
Dell took the company private in 2013.
The vote now allows Dell to execute a reverse merger with subsidiary VMware, a move that was previously reported on by Community Impact Newspaper in July.
Dell will buy the publicly traded DVMT which tracks the performance of subsidiary VMware—a cloud computing and platform virtualization company. VMware was part of Dell’s acquisition of EMC for $64 billion in 2016.
According to its press release, Dell expects to begin publicly trading its stock on the New York Stock Exchange on Dec. 28, the same day the company is set to officially become public.
Community Impact Newspaper will update this article as more information becomes available.