The vote clears the way for the huge buyout, in which Dell is working with private equity partners
The move comes as traditional PC companies struggle to make money in a market that is rapidly shrinking, with the latest forecasts showing that PC sales will be overtaken by tablets for the first time in the final quarter of this year.
Research group IDC said tablets will outsell all PCs in the three months to Christmas, and by 2015 they will regularly outsell PCs as consumers' tastes shift towards the more mobile format.
"We are forecasting 84.1m tablets will be shipped in the fourth quarter of 2013, compared to 83.1m PCs," said an IDC spokesman.
The abruptness of the shift - modern tablets only went on sale with the launch of Apple's iPad in
By 2017, says IDC, 87% of devices connected to the internet will be tablets and smartphones, relegating PCs from their former position as the main means of getting online.
Speaking after the Dell vote,
PC makers such as Dell have struggled with limited profits for years. But as consumers, who made up half of PC buyers, have shifted spending to tablets and smartphones, the industry has suffered falls in sales which are squeezing small and large players alike.
Dell has been forced into a buyout after 25 years on the stock market because the PC market is dwindling so rapidly. The company reported a 72% slump in quarterly earnings last month as it cut prices and prepared an attack on the market for supplying big "enterprise" businesses.
The iPad was rapidly followed by more tablets, from companies including Samsung, Amazon and Google. After years when PC sales growth was regularly between 10% and 20%, it has gone into reverse for the past five quarters, and IDC forecasts a drop of nearly 10% this year.
Other companies besides Dell have been hit due to the lack of a successful tablet strategy.
Dell first proposed the buyout in private discussions in
A vote on the buyout had been postponed three times as
A change of over two months in the deadline for proxy votes may also have brought backing from hedge funds that bought shares for short-term gain and were likely to support a buyout.
Most Popular Stories
- US Consumer Borrowing Rose $18.2B in Oct.
- 2014 World Cup Official Noisemakers Quieter than Vuvuzelas
- Unjustified?: Justin Timberlake's Grammy snub
- Economic Bright Spots Not a Sure Boost for President Obama
- Apple Wants Samsung to Pay $22M for Patent Dispute Legal Bills
- North Korea Frees 85-Year-Old Vet Merrill Newman
- NSA Defends Global Cellphone Tracking Legality
- Starbucks Gets Grinchy; No Gingerbread Lattes for Tampa Customers
- Jobs Report Brings Cheer As Unemployment Drops to Five-year Low
- Apple Paid Its Lawyers More Than $60MM to Defeat Samsung in Court