Dell Technologies, an American multinational technology company, completed the spin-off of its 81% stake in VMware, an American cloud computing and virtualization technology company, in a $9.7bn deal. "By spinning off VMware, we expect to drive additional growth opportunities for Dell Technologies as well as VMware, and unlock significant value for stakeholders. Both companies will remain important partners, providing Dell Technologies with a differentiated advantage in how we bring solutions to customers. At the same time, Dell Technologies will continue to modernize its core infrastructure and PC businesses and embrace new opportunities through an open ecosystem to grow in hybrid and private cloud, edge and telecom," Michael Dell, Dell Technologies Chairman and CEO.