Its shares jumped on the announcement. The spending spree helped Dell branch out from its origins as a personal computer maker, but left the company saddled with debt. VMware was founded in and acquired by EMC inwhich sold part of its stake in an initial public offering three years later. In another effort to slim down the company, Dell is also exploring options including a potential sale of cloud business Boomi, people familiar with the matter told Bloomberg. Michael Dell and other executives faced questions from analysts about their decision to reverse the industry consolidation strategy relatively quickly. Dell is on the path to an investment grade from debt ratings services, Clarke said.
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