FILE PHOTO – The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid
(Reuters) – Computer maker Dell Technologies Inc is exploring a sale of SecureWorks Corp, a U.S. provider of cyber security services with a market value of close to $2 billion, people familiar with the matter said on Thursday.
A sale of SecureWorks, in which Dell holds an 85 percent stake, would allow the latter to trim its $50 billion debt pile, after it decided to become a publicly traded company through a complex deal involving its software subsidiary VMware Inc.
SecureWorks is working with investment bank Morgan Stanley on a sale process that is in its early stages, the sources said, asking not to be identified because the matter is confidential.
Dell declined to comment, while SecureWorks and Morgan Stanley did not immediately respond to requests for comment.
Reporting by Liana B. Baker in New York and Pamela Barbaglia in London; Additional reporting by Carl O’Donnell in New York; Editing by Susan Thomas