Perot Systems shares rise 6% on Dell's acquisition move

Perot Systems Corp (PER) share price jumped more than 65 percent to $29.68 during Monday intraday trading after computer maker Dell, Inc. (DELL) announced its $3.9 billion acquisition deal to acquire the former. The offer price of $30 per share is a 68 percent premium over the Friday closing price.

Dell, which is known for hardware, is trying to move into the profitable IT services arena with this acquisition. It is a move reflected across the IT industry, as hardware is not as profitable as the services. Perot Systems will become the services unit of Dell after the deal is completed, and will be led by the current Perot systems CEO Peter Altabef. The deal is expected to close by January 2010, and Dell added that it expects the deal to help earnings growth in its fiscal year 2012.

Dell’s share rose about two percent during intraday trade to $16.20 since opening at $15.88. Perot Systems share price was $16.02 at around 2:15 PM ET.