After months of speculation, Dell officially announced this morning that it will be going private in a $24.4 billion deal with founder Michael Dell and investment firm Silver Lake.

Microsoft also noted this morning that it provided a $2 billion loan to Dell and Silver Lake. In a (very) pithy statement this morning, Microsoft said it was “committed to the long term success of the entire PC ecosystem” and it’s investing in a variety of ways to continue that ecosystem.

“I believe this transaction will open an exciting new chapter for Dell, our customers and team members,” founder and chief executive Michael Dell said in a statement this morning. “We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise. Dell has made solid progress executing this strategy over the past four years, but we recognize that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision.”

Developing, refresh for updates.

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