Cognizant Technology Solution Corp is in race to buy Dell’s Perot systems.
What the actual story is?
Companies like Cognizant Technology Solutions Corp., NTT Data Corp. and Atos SE are competing to acquire Perot Systems which is an information technology management business of Dell Inc. Dell is hoping that Perot Systems will fetch more than $5 billion that will help it to lower its debt load. Dell has acquired data storage company EMC Corp for $66 billion, including debt. The merger with EMC is scheduled to close by October 2016.
The auction for Perot Systems has taken longer than expected because the offers Dell has received thus far have failed to meet its valuation expectations.