Michael Dell has won the battle to take the company he founded in 1984 private after shareholders voted in favour of the deal on the table from Michael Dell and private equity company Silver Lake.
It means that the company will be taken private in a $24.9bn transaction, which will enable Michael Dell to develop the technology to enable the company to compete in the era of cloud computing, he claimed in a letter to customers.
Further reading Michael Dell and Silver Lake get approval for $24.9bn buyout Icahn refused fast-track lawsuit against Dell board as Michael Dell $25bn bid stands Michael Dell's bid for Dell on the brink of collapse after company rejects voting change Icahn sues Dell and board as buyout race heats up
"We are going back to our roots, to the entrepreneurial spirit that made Dell one of the fastest growing, most successful companies in history," wrote Michael Dell.
"We stand on the cusp of the next technological revolution. The forces of cloud, big data, mobile and security are changing people's relationship with technology, just as the PC did almost 30 years ago. Now it's time to do what Dell does best-make these innovations simpler, more affordable and more accessible," he continued.
The votes were cast at a twice-delayed special meeting held this morning in Austin, Texas.
The company has struggled as a result of the shift towards tablet and mobile technologies, such as smartphones, away from its core products of PCs and laptops.
Unit sales of servers have also fallen globally in 2013 as many companies look to cloud to augment their computing infrastructures, rather than simply buying more storage or servers. For example, many organisations now develop new applications in the cloud where they can rent capacity as it is cheaper than buying outright servers on which to develop applications.
Dell's server sales are also skewed towards the lower end, compared to rivals Hewlett-Packard and IBM, reflecting its origins as a PC maker.
Earlier this week, rival buyer Carl Icahn, an activist investor who had teamed up with private equity company Southeastern to acquire the company instead. Icahn has complained that the process was tilted in Michael Dell's favour by the board of the company, a claim they deny.
