Home / Business / Francisco Partners and TPG to acquire Boomi from Dell Technologies.

Francisco Partners and TPG to acquire Boomi from Dell Technologies.

CHESTERBROOK, Pa., ROUND ROCK, Texasand San francisco, 2 May 2021 / PR Newswire / – Francisco Partners, a leading global investment firm specializing in technology partnerships, and TPG Capital, a private equity platform for global alternative asset firms, TPG has entered into a stand-alone deal. Finally, with Dell Technologies (NYSE: DELL) to acquire Boomi, a leading provider of cloud-to-service (iPaaS) integration platforms, cash items are valued. $ 4 billion It is expected to close by the end of 2021 under customary closing conditions. Terms of the deal were not disclosed.

“Boomi has flourished as part of Dell Technologies, which has grown exponentially since we acquired in 201

0. The proposed transaction will continue to grow Boomi and is the right move for both companies, common customers and partners.” Of us, ”said. Jeff ClarkeVice President and Chief Operating Officer, Dell Technologies “For us, we are focused on driving growth by modernizing our core infrastructure and PC business and expanding into high-priority areas including hybrid and private cloud, edge telecom, and more. And APEX, all designed to help organizations succeed in doing From anywhere economically ”

“Boomi is a pioneer in the iPaaS category and we have been following their growth for many years,” said Dipanjan Deb, co-founder and CEO, and Brian DeckerPartner at Francisco Partners “The ability to integrate and connect data and workflows between any application or domain that together is a critical business capability and we believe Boomi is well positioned. To help companies of all sizes turn information into their most valuable assets.

“The need for automation and data integration between applications has never been greater,” said it. Nehal Raj, Partner and Heidrich species, Headmaster at TPG Capital. ”Boomi’s native cloud platform empowers organizations to streamline business processes and is essential to drive digital transformation. TPG has a long history of partnering with enterprise leaders such as Dell. Technologies To create and expand the dynamic technology business, we look forward to working with the teams at Boomi and Francisco Partners to accelerate the company’s growth as an independent enterprise.

Boomi is trusted by more than 15,000 customers worldwide to discover, manage and provide information. As a pioneer in smart use of data, Boomi enables organizations to quickly and easily connect applications, processes and people across locations and devices, completing projects in weeks, not months. With the company’s low-code applications and data aggregation platform and data quality, discovery, and preparedness capabilities, customers can create integrated experiences and connect people to what they want. Instantly, making it faster and easier to integrate information, systems, applications, processes. People, establishments and organizations around the world.

“I am incredibly proud that with innovation, passion and relentless execution, the Boomi team has created a unified platform for the next-generation hybrid IT landscape with thousands of customers around the world. Have to rely on digital transformation of their business, ”said. Chris McNabbBoomi Chief Executive Officer “By partnering with two first-tier investment firms such as Francisco Partners and TPG, we can accelerate our clients’ ability to use data to drive a competitive advantage in the next phase of Boomi growth. To be in a strong position to move forward Our innovation and marketing approach, while delivering greater value to our customers. ”

Morgan Stanley & Co. LLC and DBO Partners LLC acted as financial advisors to Dell Technologies Skadden, Arps, Slate, Meagher & Flom LLP served as legal adviser to Dell Technologies Barclays, Citi and J.P. Morgan Securities LLC. He is the financial adviser to Francisco Partners and TPG Capital Ropes & Gray LLP, Paul Hastings LLP and Kirkland & Ellis, acting as legal advisers to Francisco Partners and TPG Capital.

About Francisco Partners
Francisco Partners is a leading global investment firm specializing in technology partnerships and technology-based businesses. Since its launch 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the longest and most active investors in the more advanced technology industry. $ 25 billion In assets under management, companies invest in opportunities where their field knowledge and deep operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About TPG
TPG is a leading global alternative asset company founded in 1992 with more than $ 91 billion Of assets under management and in the office Peking, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Mumbai, New York, San francisco, Seoul, Singaporeand Washington DCTPG’s investment platform is in a wide variety of asset classes, including private equity, growth equity, impact investing, second-largest real estate and public stocks. Invest while creating discipline and operational excellence in investment strategy and portfolio performance. For more information on TPG, please visit http://www.tpg.com.

About Boomi
Boomi connects everyone and everything instantly with a fully integrated, open and smart native cloud platform. Boomi’s Integration as a Service (iPaaS) platform is trusted by more than 15,000 customers worldwide for speed, ease of use and lower total cost of ownership. As a pioneer in smart use of data, Boomi’s vision is to enable customers and partners to quickly and easily discover, manage and organize information, while you connect applications, processes and people to provide Get better and faster results. Find out more about Boomi at www.boomi.com.

About Dell Technologies
Dell Technologies (NYSE: DELL) helps organizations and individuals build a digital future and transform the way they work, live and play.The company provides customers with the industry’s broadest and most innovative portfolio of technology and services for the information age.

Disclosure of forward-looking statements

The statements in this communication relating to future results and events are forward-looking statements and in accordance with Dell Technologies’ current expectations. “Intend,” “plan,” “aim,” “seek” and similar expressions in connection with Dell Technologies or its management. It is intended to identify these forward-looking statements. Factors or risks that could cause our actual results to differ materially from our predicted results include, but are not limited to: (i) the failure to achieve or the proposed transaction delay Accomplishments; (ii) the risk that the proposed transaction closure may not be met; (iii) the risk that regulatory approvals that may be required for the proposed transaction are delayed, not received or obtained under unforeseen conditions. And (iv) the results of any proposed transaction announcements regarding Dell Technologies’ relationship with customers, results of operations and general business. Any forward-looking statements are spoken only as of the date of such statements and, except as required by law, Dell Technologies is under no obligation to update any forward-looking statements after the date of such statements. Whether it reflects a change in circumstances or expectations, the occurrence of unexpected events or otherwise.

Source: Dell Technologies

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