In a much anticipated move, VMware and Dell Technologies announce the completion of the spin-off of VMware from Dell Technologies. This makes VMware an independent company for the first time since 2004. The spin-off from Dell Technologies provides VMware increased freedom to execute its multi-cloud strategy, a simplified capital structure and governance model, and additional operational and financial flexibility.

The rumors about Dell’s spin-off were started in July 2020. The terms of the completed spin-off include an $11.5 billion special cash dividend (the “Special Dividend”) that resulted in a $27.40 per share dividend payment on November 1, 2021 (the “Payment Date”) to all VMware stockholders as of close of business on October 29, 2021 (the “Record Date”). 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, 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,” Raghu, who assumed office recently, added.

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

Founded in 1998, Palo Alto, California VMware is a leading provider of multi-cloud services for all apps, enabling digital innovation with enterprise control. The cloud computing and virtualization technology company was also the first commercially successful company to virtualize the x86 architecture. As a trusted foundation to accelerate innovation, VMware software gives businesses the flexibility and choice they need to build the future.