Andrew Bary. Dell stock surged as much as 17% on Thursday after the company confirmed rumors of a potential spin-off of cloud computing firm VMware.. The tech giant holds an 80.6% stake in VMware ⦠Spin off VMware by transferring Dellâs 81% VMware ownership to Dell shareholders. EMC acquired VMware in 2004. By. Dell Technologies is exploring a potential spin-off of its 81% ownership of VMware. VMwareâs NSX network virtualisation business also has enormous upside and little competition. Sell about 20% of VMware ⦠Possible Dell-VMware spinoff at least a year off. Dell said its goal would be to â1) maintain VMwareâs credit rating of investment grade and (2) improve Dell Technologiesâ credit rating at, or shortly following consummation of, the Spin-off. Dell, which acquired its 80% stake in VMware through the 2016 acquisition of data storage maker EMC, said in July that it was exploring a VMware spinoff to Dell ⦠Spinning out VMware while retaining a strategic umbilical cord may help Dell, but it is hard to see such a relationship enduring. Potential deal could unlock value for shareholders To benefit ⦠Dell Wants to Spin Off VMware â and Wall Street Loves It. Dell also confirmed what analysts have said over the past few weeks: that any spinoff would not happen until September of 2021 so the company can sidestep the heavy federal taxes associated with the deal. Dell Technologies Inc. surged as much as 12% touching a seven-month high on Wednesday following a report that the computer maker was mulling a spinoff of its stake in VMware Inc. Dell acquired its stake in VMware through the $67 billion buyout of EMC Corp. in 2016. Indeed, Dell has struggled to make similar relationships work with the likes of RSA, Quest Software, and SonicWall. 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