Dell has agreed to sell its Boomi cloud business to private equity forms Francisco Partners and TPG in a deal worth US$4 billion. The announcement of a potential sale was first reported by Bloomberg last month and confirmed in several global news filings.
Boomi, which was acquired by Dell in 2010, helps organisations integrate various cloud platforms.
In a statement, Dell vice chairman and chief operating officer Jeff Clarke, said: “This proposed transaction positions Boomi for its next phase of growth and is the right move for both companies, our shared customers and partners. For us, we’re focused on fuelling growth by continuing to modernise our core infrastructure and PC businesses and expanding in high-priority areas.”
The transaction is expected to close by end of this year.
Last month Dell had also announced it will spin off its majority 81% stake in VMware to create two standalone companies. In 2020, Dell sold its RSA cyber security business to a consortium of partners for over $2 billion.
Dell is currently in the process of transitioning from a hardware seller into a software and subscription seller.