"It's an opportunity to grow in a way that they couldn't organically," he says.

What's more, given the positions of Wyse and HP as No. 1 and No. 2, respectively, in the thin client market, he says the move could put HP under considerable pressure.

"I think it gets real interesting in terms of [HP's] ability to compete now," he says.

Chris Silva, a mobile analyst for the Altimeter Group, says that this newfound expertise in thin clients changes Dell's position in the overall enterprise IT market in subtle but important ways. While the company is currently seen more as a supplier than an out-and-out partner for business IT, technology such as Wyse's should help it position itself as a more comprehensive solutions vendor. HP and even , he adds, could see stiffer competition from Dell as a result of the deal.

Dell's other recent acquisition, , could play into the company's newfound strength in the market for thin clients and virtual desktops as well.