Dell Technologies will sell a majority stake in its consumer division in a deal that could close in the next month, a person familiar with the matter said.
The company said Thursday it had reached an agreement with New York-based Dell Technologies for the company to buy 10 percent of its shares in Dell, which is a technology company focused on the enterprise and personal computer market.
The deal, which was first reported by the Wall Street Journal, is expected to close in a few weeks.
Dell has said it is exploring other opportunities for the remaining stake, but declined to provide details.
The purchase could help Dell, the world’s largest maker of desktop PCs, gain traction with customers who are less willing to buy new PCs.
Dell Technologies has been trying to sell its business to private investors, including tech billionaire Elon Musk’s SpaceX.
The investment could help offset the pain of the stock slump since the end of 2016.
The stock has dropped almost 30 percent this year, to below $15 per share, thanks in part to the impact of the election of Donald Trump as president.