Home Just In Dell sells its cloud business Boomi to Francisco Partners and TPG for $4 billion

Dell sells its cloud business Boomi to Francisco Partners and TPG for $4 billion

by CIO AXIS

Dell has sold Boomi, a provider of cloud-based integration platform as a service (iPaaS), to investment firm Francisco Partners and TPG Capital, the private equity platform of global alternative asset firm TPG. The acquisition is valued at $ 4 billion and is expected to close by the end of 2021.

“Boomi has flourished as part of Dell Technologies, growing exponentially since we acquired them in 2010. This proposed transaction positions Boomi for its next phase of growth and is the right move for both companies, our shared customers and partners,” said Jeff Clarke, vice chairman and chief operating officer of Dell Technologies. “For us, we’re focused on fueling growth by continuing to modernize our core infrastructure and PC businesses and expanding in high-priority areas including hybrid and private cloud, edge, telecom and APEX. All designed to help organizations thrive in the do-from-anywhere economy.”

Dell Technologies has recently announced the planned spin-off of its 81% equity ownership interest in VMware.

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