The deal is valued at about $24.9 billion

It's official: Dell has gone private.

Dell founder, Chairman and CEO Michael Dell completed the bid to take his company private today along with investment firm Silver Lake Partners. Dell shares will no longer be traded on the stock exchange as of market close today. 

“Today, Dell enters an exciting new chapter as a private enterprise,” said Michael Dell. “Our 110,000 team members worldwide are 100 percent focused on our customers and aggressively executing our long-term strategy for their benefit.” 

The deal, which is valued at about $24.9 billion, will give Dell shareholders a total of $13.88 per share ($13.75 in cash for each share they own, and a cash dividend of 13 cents per share). 

The deal was originally approved September 12 at a Dell shareholders meeting. The approval gives Michael Dell and Silver Lake Partners approximately 75 percent of the company. 

So what does Dell's future hold now? Michael Dell said he'll focus on expanding the company's presence in emerging marketsand invest in tablets, PCs and virtual computing. Dell will continue to be headquartered in Round Rock, Texas.

Michael Dell is taking the company private for good reason. It lost one-third of its value last year alone. PC sales are slow since PC demand can't keep up with that of mobile devices, and Dell has to hear about its financial failures from shareholders each quarter.

In May, the company reported a 79 percent decline in profits, with net income falling to $130 million from $635 million compared to the same quarter of 2012. This is mainly due to a shrinking PC market.

Hopefully the company can pull itself back together outside of the public's eye. 

Source: Dell

"If a man really wants to make a million dollars, the best way would be to start his own religion." -- Scientology founder L. Ron. Hubbard
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