Dell may have found a buyer for its Perot Systems business unit.
Nippon Telegraph and Telephone, the Japan-based telecommunications giant, is close to buying the IT services and consulting business unit from Dell for roughly $3.52 billion, according to a report on Tuesday by the Nikkei Asian Review.
A report by the Wall Street Journal said the deal was still being worked out, and the exact price and terms of the deal haven’t been determined.
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Both reports cite NTT’s desire to grow its IT consulting business in the United States as one of the reasons it wants the business unit.
Former presidential candidate Ross Perot founded Perot Systems in 1998. The company was once a member of Fortune’s Most Admired Companies in America list in 2008.
In 2009, Dell bought Perot Systems for $3.9 billion. Dell has been looking to sell Perot Systems in order to help finance its massive $67 billion purchase of business technology giant EMC (EMC) as well as its family of companies and subsidiaries.
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In January, a number of other companies were reported to have been interested in buying Perot Systems. These companies included French IT company Atos, India-based Tata Consultancy Services, and Cognizant Technology Solutions.
A Dell spokesperson declined to comment to Fortune.