SAN FRANCISCO & ROUND ROCK, Texas--(BUSINESS WIRE)--Francisco Partners, a leading technology-focused private equity firm, Elliott Management Corporation, and Dell today announced they have signed a definitive agreement for Francisco Partners and Elliott to acquire the Dell Software Group. The agreement bolsters Francisco Partners and Elliott Management’s technology portfolios with the addition of Dell Software’s diverse combination of security, systems and information management, and data analytics solutions.
"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."
“We founded our firm in 1999 to pursue divisional carve outs in the technology sector and today’s agreement continues that vision,” said Dipanjan “DJ” Deb, Francisco Partners’ Chief Executive Officer. “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. We are excited to be partnering with Elliott Management and want to thank Silver Lake Partners and Dell for their continued partnership.”
“Elliott has been a long-term investor in the technology space and today’s announcement continues our progress,” said Jesse Cohn, Senior Portfolio Manager at Elliott Management. “This acquisition represents a significant deal by Evergreen Coast Capital, Elliott’s recently established Menlo Park affiliate. We look forward to working with Francisco Partners to create significant value at these companies.”
“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,” said 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 comprehensive 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. With Dell Software solutions, organizations of all sizes can better secure, manage, monitor, protect, and analyze information and infrastructure in order to help fuel innovation and drive their businesses forward.
"We see tremendous growth opportunity for these businesses," said 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."
"We are proud to partner with Francisco Partners to acquire Dell Software from Dell Inc.," said Isaac Kim, Managing Director of Evergreen Coast Capital. "Dell Software has world class products and talented employees, and we look forward to working with the management team to grow revenues and increase value. We believe these companies offer unique value and operational potential."
Read more at source - http://software.dell.com/acquisitions/dsg.aspx?utm_campaign=20107-44402-CP-GL-SIMAnnounce_CustProsp&utm_medium=email&utm_source=Eloqua
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