Francisco Partners, Elliott Management to buy Dell unit for reported $2B+
June 21, 2016
Francisco Partners and Elliott Management have agreed to acquire the Dell Software Group in a deal reportedly worth upward of $2 billion. Dell’s sale of its software unit—which offers services related to security, data analytics and systems & information management—follows a series of sizable transactions that presumably support Dell’s $67 billion acquisition of EMC, a transaction expected to close later this year. Dell sold $20 billion in secured bonds last month, and in March the company announced the sale of its IT services unit to NTT DATA for a reported $3 billion.
It’s perhaps no surprise Dell turned to private equity to offload its software business, as PE buyers have successfully inked several notable software deals as of late. Just within the past three weeks, Vista Equity Partners agreed to buy marketingtech company Marketo for about $1.79 billion and sealed its acquisition of enterprise security technology provider Ping Identity, while Thoma Bravo agreed to acquire visual analytics provider Qlik for roughly $3 billion.