Dell announced on Tuesday that it has completed its $3.9 billion offer to buy Perot Systems. By accepting Perot's stock at $30 per share, Dell will own more than 90 percent of the company.
Dell's takeover of Perot has created a new business unit called Dell Services, which will provide IT services to customers. Dell's reach will now extend into technology hosting, consulting, and application outsourcing, among other segments.
Former Perot Chief Executive Officer Peter Altabef will become president of Dell Services, reporting directly to Dell Chairman and CEO Michael Dell. Altabef has steered Perot for the past five years as the company expanded its operations into more than 25 countries and captured sales of $2.8 billion in 2008.
"Dell Services will be a powerful organization with the extensive capabilities and global reach to address the needs of organizations of all types," said Altabef in a statement. "The Dell and Perot Systems integration teams have been extremely productive in their planning, and we are ready to work on behalf of all our customers."
Dell is looking at Perot to expand its niche in technology consulting and other services, combining its own large customer base with Perot's vast IT services. Also appealing is Perot's huge market in hospitals and medical facilities, a growing segment driven by the need to streamline and modernize the health care industry.
Dell revealed its intent to buy Perot Systems on September 21. No date was announced for completion of the acquisition, but Dell said it expects it to be done promptly.