NEW YORK, Feb 12 (Reuters) – Dell Inc said onTuesday it will buy business e-mail services providerMessageOne Inc, which was co-founded by Michael Dell’s brother,for $155 million in cash.
MessageOne’s software, which is delivered to customers overthe Internet, helps companies manage and archive e-mail,minimize outage and prevent data losses, Dell said in astatement.
It said MessageOne is owned in part by two investmentfunds: Impact Venture Partners and Impact Entrepreneurs Fund.Dell founder and Chief Executive Michael Dell and his familyare investors in the funds, which are managed by his brotherAdam Dell.
Dell said it expected Michael Dell, his wife Susan andtheir children’s trust to receive about $12 million from thedeal. Adam Dell will get about $970,000 and his parents willreceive about $450,000.
Michael Dell intends to donate their proceeds from the dealto charity, the company said, adding that the CEO was excludedfrom negotiating the terms and decisions of the acquisition.
Dell, the world’s second-largest maker of personalcomputers, has stepped up the pace of acquisitions sinceMichael Dell retook the helm a year ago amid slowing salesgrowth and tough competition from Hewlett-Packard Co.
Dell last month completed the $1.4 billion purchase ofEqualLogic, its largest acquisition since the company wasfounded in 1984. EqualLogic specializes in data storagetechnology, Dell’s fastest-growing business.
Based in Round Rock, Texas, Dell’s shares edged 0.8 percenthigher to $20.09 in early trading on the Nasdaq.
(Reporting by Franklin Paul and Tiffany Wu, editing by DaveZimmerman)
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