Dell to Sell Software Unit to Francisco Partners and Elliott
June 20 2016 - 10:50AM
Dow Jones News
Dell Inc. is selling its software group as the computer maker
continues to sell assets and change strategy to focus on its
acquisition of storage vendor EMC Corp.
Private-equity firm Francisco Partners and hedge fund Elliott
Management Corp. said Monday that they would buy Dell Software
Group for an undisclosed price.
The software group provides services to corporations such as
analytics, database management, data protection, access control and
performance monitoring.
Dell has been working to finance its $67 billion acquisition of
EMC, including by selling its information-technology-services
division for $3.05 billion and selling $20 billion in bonds.
In recent years, Dell has tried to expand from its traditional
hardware businesses and into software. Now, Dell is focusing on the
data-storage hardware and data-center software from VMware Inc.,
which are being brought in from the EMC deal, and getting out of
some previous bets.
In 2012, Dell bought tech-security company SonicWall Inc. for
$1.2 billion and business-software maker Quest Software Inc. for
$2.36 billion. Both are included in the deal.
Michael Dell took his namesake company private in 2013.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
June 20, 2016 10:35 ET (14:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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