News Summary: Dell turnaround takes private road

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Associated Press

Posted on February 5, 2013 at 11:00 PM

Updated Tuesday, Feb 5 at 11:01 PM

GOOD-BYE, WALL STREET: Troubled personal computer maker Dell Inc. is selling itself to its eponymous founder Michael Dell and a group led by investment firm Silver Lake for $24.4 billion. It will end Dell's 25-year history as a publicly traded company.

END OF AN ERA: The sale will open a new chapter for Dell, which was founded in 1984 in a University of Texas dorm room. Initially funded with just $1,000, the company's market value peaked at more than $150 billion in 2000.

PC BLUES: The deal is the latest sign of the tough times in the PC industry as more technology spending flows to smartphones and tablet computers.

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