Capping a process that began late last year, Dell could announce as early as Monday the sale of the company’s IT services unit to Japan’s telecom conglomerate NTT for $3.5 billion, sources briefed on the process tell Re/code.
Dell has been shopping the division — previously known as Perot Services — since last fall as part of a wider effort to raise as much as $10 billion selling assets that aren’t a core part of its business.
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The company wants to use those funds to help pay down part of the $50 billion in debt it will incur when it closes on its $67 billion acquisition of data storage company EMC, which would stand as the largest technology deal of all time if it goes through. The sale to NTT is seen as an important signal to the debt markets that Dell will be able to rapidly pay down that debt.