The company plans to invest in the personal computer and tablet markets, in expanding sales coverage and in growing its distribution network, founder and Chief Executive Michael Dell said in a conference call after the shareholder vote.
               
A "significant incremental investment" is required to turnaround the company and having two strong private investors will aid the restructuring, Dell added.
               
Shareholders cast their votes at a special meeting on Thursday morning in Round Rock, Texas. Based on preliminary results, the buyout has secured their go-ahead and the deal is expected to close before the end of the fiscal third quarter.
               
The company's pace of internal transformation should now quicken. Sealing the deal should also assuage customers who have grown wary of the company's direction during a very public battle that pit major Wall Street players Icahn, Southeastern Asset Management and T. Rowe Price against the CEO.
               
"We still have a long way to go and many challenges to meet," Dell said. "But under a new private company structure, we will have the flexibility to accelerate our strategy and pursue both organic and inorganic investment without the scrutiny, quarterly targets and other limitations of operating as a public company."

 (Agencies)

Latest News  from Business News Desk