Dell is close to selling its IT services business to Japanese operator NTT, with a formal offer expected on 9 March.
The deal, worth around $3.5 billion, will see the Perot Systems business and other assets sold off in order to pay for the planned take-over of EMC.
It is expected to be finalised in New York at a meeting between Michael Dell, Dell CEO, and NTT executives, according to the report in Re/code.
French firm Atos had also been a bidder, according to the report, and potentially would have paid $4 billion in a stock transaction before its share price fell.
Indian software firm Tata Consultancy Services (TCS) and Cognizant were also supposed to be potential bidders. The negotiations with TCS ended in December after a deal could not be agreed.
The final sum is considerably less than Dell was seeking originally: over $5 billion, according to Reuters and Re/Code.
Dell is hoping to raise as much as $10 billion through sales of its non-core assets. Servers and other hardware assets will remain untouched.
In November, a report from Reuters suggested that Quest Software, SonicWall and AppAssure could be other potential assets that are sold off. They operate in IT management, email encryption and data security and back-up solutions respectively.
In its original proposals, Dell proposed to take on $49.5bn of debt in the $67 billion take-over, which these sales will help to pay down.
Perot Systems was founded in 1988 by a group of investors led by former US presidential candidate Ross Perot.
The company employed over 23,000 people and had annual revenue of $2.8bn prior to its acquisition in 2009 by Dell for $3.9bn.
