CHESTERBROOK, PA., ROUND ROCK, Texas, and SAN FRANCISCO, May 2, 2021 / PRNewswire / – Francisco Partners, a leading global investment firm specializing in partnerships with technology companies, and TPG Capital, the private equity platform of global alternative asset firm TPG, have entered into a definitive agreement with Dell Technologies (NYSE: DELL) to acquire Boomi, a leading provider of cloud-based integration platform as a service (iPaaS). The cash transaction is valued at $ 4 billion and is expected to close by the end of 2021, subject to customary closing conditions. Terms of the deal were not disclosed.

“Boomi has thrived within Dell Technologies, growing exponentially since we acquired them in 2010. This proposed transaction positions Boomi for its next phase of growth and is the right move for both companies, our common customers and partners,” said Jeff Clarke, vice president and chief operating officer of Dell Technologies. “For us, we are focused on driving growth by continuing to modernize our core infrastructure and IT operations and expanding into high priority areas including hybrid and private cloud, edge, telecommunications and APEX. economy from anywhere. ”

“Boomi was the pioneer of the iPaaS category and we have followed their growth for a number of years,” said Dipanjan Deb, co-founder and CEO, and Brian Decker, partner, at Francisco Partners. “The ability to integrate and connect data and workflows across any combination of applications or domains is a critical business capability, and we believe Boomi is well positioned to help businesses of all sizes. transform data into its most valuable asset.

“The need for automation and data integration between applications has never been greater,” said Nehal Raj, partner and Heidrich Art, principal, at TPG Capital. “Boomi’s cloud-native platform enables companies to streamline business processes and is essential for driving digital transformation. TPG has a long history of partnering with business leaders such as Dell Technologies to create and grow vibrant technology companies. We look forward to working with the teams. at Boomi and Francisco Partners to accelerate the growth of the company as an independent entity. “

More than 15,000 customers around the world trust Boomi to discover, manage and orchestrate data. As a pioneer in the intelligent use of data, Boomi enables organizations to quickly and easily connect applications, processes, and people across a range of locations and devices, completing projects in weeks instead of in several months. With the company’s low-code data and application integration platform, along with data quality, discovery and preparation capabilities, customers can create integrated experiences and instantly connect people to what they want – making it easier and faster to unify data, systems, applications, processes, people, businesses and organizations around the world.

“I’m incredibly proud that through innovation, passion and relentless execution, the Boomi team has created a unified platform for the modern hybrid IT landscape that thousands of customers around the world depend on to digitally transform. their business, “said Chris McNabb, Managing Director of Boomi. “By partnering with two leading investment firms such as Francisco Partners and TPG, we can accelerate our ability for our clients to use data to drive competitive advantage.” In this next phase of growth, Boomi will be in a strong position to further advance our innovation and market trajectory while delivering even more value to our customers. ”

Morgan Stanley & Co. LLC and DBO Partners LLC acted as financial advisers to Dell Technologies. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Dell Technologies. Barclays, Citi and JP Morgan Securities LLC acted as financial advisers to Francisco Partners and TPG Capital. Ropes & Gray LLP, Paul Hastings LLP and Kirkland & Ellis acted as legal advisers to Francisco Partners and TPG Capital.

About Francisco Partners
Francisco Partners is a leading global investment firm specializing in partnerships with technology and technology companies. Since its launch over 20 years ago, Francisco Partners has invested in over 300 tech companies, making it one of the most active and long-standing investors in the tech industry. With over $ 25 billion In assets under management, the company invests in opportunities where its in-depth industry knowledge and 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 assets under management and offices in Beijing, Fort worth, Hong Kong, London, Luxembourg, Melbourne, Bombay, new York, San Francisco, Seoul, Singapore, and Washington DC. TPG’s investment platforms cover a wide range of asset classes including private equity, growth capital, impact investing, real estate, secondaries and public capital. TPG aims to create dynamic products and options for its investors while instilling discipline and operational excellence in its investment strategy and portfolio performance. For more information on TPG, please visit http://www.tpg.com.

About Boomi
Boomi instantly connects everyone to everything with its native, unified, open and intelligent cloud platform. Boomi’s Integration Platform as a Service (iPaaS) is trusted by more than 15,000 customers worldwide for its speed, ease of use and low total cost of ownership. As a pioneer in the intelligent use of data, Boomi’s vision is to enable customers and partners to discover, manage and orchestrate data quickly and easily, while connecting applications, processes and people. for better and faster results. For more information on Boomi, visit www.boomi.com.

About Dell Technologies
Dell Technologies (NYSE: DELL) helps organizations and individuals build their digital futures and transform the way they work, live and play. The company offers its customers the industry’s broadest and most innovative portfolio of technologies and services for the data age.

Disclosure Regarding Forward-Looking Statements

The statements contained in this communication that relate to future results and events are forward-looking statements and are based on Dell Technologies’ current expectations. The words “may”, “will”, “anticipate”, “estimate”, “expect”, “intend”, “plan”, “aim”, “seek” and similar expressions in relation to Dell Technologies or its management aim to identify these forward-looking statements. Factors or risks that could cause our actual results to differ materially from our anticipated results include, but are not limited to: (i) failure to complete or delay in completing the proposed transaction; (ii) the risk that a condition to closing the proposed transaction will not be met; (iii) the risk that regulatory approval which may be required for the proposed transaction may be delayed, not obtained or may be obtained subject to conditions that are not anticipated; and (iv) the effect of the announcement of the proposed transaction on Dell Technologies’ relationships with its customers, results of operations and general business. Any forward-looking statement speaks only as of the date on which such statement is made and, except as required by law, Dell Technologies assumes no obligation to update any forward-looking statement after the date on which such statement is made. been made, whether to reflect changes in circumstances or expectations, the occurrence of unforeseen events or otherwise.

SOURCE Dell Technologies

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