(Reuters) – Dell returned to the public market on Friday, almost six years after the company's founder and chief executive officer, Michael Dell, privatized what was then the largest buyout since the 2008 financial crisis.  The computer manufacturer is listed on the New York Stock Exchange under the symbol & # 39; DELL & # 39; after repurchasing shares that tracked the financial performance of software maker VMware, which owned 81 percent of Dell. The cash and stock deal was worth nearly $ 24 billion.
The repurchase of the shares allowed Dell to bypass the traditional IPO, which had probably led to investors grilling over the company's $ 52.7 billion debt pile.
Dell shares opened at $ 46 on Friday, bringing the market valuation to $ 1
The company was seen as a model of innovation in the early 2000s, pioneering the online ordering of custom PCs, and working closely with Asian components. Suppliers and manufacturers provide the lowest cost of production.
But the big changeover of Industry on tablet computers, smartphones, and high-performance consumer electronics such as music players and game consoles was missed over the decade, and sales dropped to a little more than 10 percent in the fourth quarter of 2012 due to a decline in shipments.
This forced Michael Dell to take the company out of the public market and consider acquisitions to transform its business. f From a PC manufacturer to a broader provider of information technology services ranging from storage and servers to network and cyber security.
The strategy is in sharp contrast to that of HP, which split from Hewlett Packard Enterprise in 2016. The argument that two technology companies focused separately on hardware and services would be nimble.
Dell's strategy, however, seems to be growing as businesses increasingly resort to one-stop-shops to manage their IT infrastructure in the cloud.
Dell reported a 15 percent increase in revenue in its final quarter, and expects total revenue in 2019 to be between $ 90.5 and $ 92 billion.
The Company currently owns 17 percent of the global PC market According to Canalys, its share since the beginning of the year has been behind rivals HP (23 percent) and Lenovo (21 percent).