Tech-focused private equity firm Francisco Partners and hedge fund corporation Elliott Management have signed a definitive agreement to acquire the Dell Software Group. The agreement bolsters both company’s technology portfolios with the addition of Dell Software’s security, systems and information management, and data analytics solutions.
“We founded our firm in 1999 to pursue divisional carve outs in the technology sector and today’s agreement continues that vision,” says Dipanjan “DJ” Deb, Francisco Partners’ CEO. “Quest Software and SonicWALL provide mission-critical software to a large and loyal base of over 180,000 customers, and we see significant opportunity to build upon the company’s impressive technology and product portfolio.”
“Francisco Partners and Elliott Management’s deep passion for technology and proven track records in nurturing and building software businesses will enable Dell Software’s loyal base of employees to continue delivering innovation,” says Tom Sweet, senior vice president and chief financial officer, Dell. “We look forward to continuing to work closely with the Francisco Partners and Elliott Management teams to further enhance the already great relationships Dell Software has with its customers and partners.”
Dell Software’s portfolio of solutions span a number of areas critical to the modern business and IT management landscape, including advanced analytics, database management, data protection, endpoint systems management, identity and access management, Microsoft platform management, network security, and performance monitoring.
“We see tremendous growth opportunity for these businesses,” says Brian Decker, head of security investing at Francisco Partners. “Network security and identity and access management are increasingly strategic imperatives for enterprises and we are thrilled to support the continued product innovation of Quest Software and SonicWALL in these areas.”
