Francisco Partners and Elliott Management to acquire Dell Software Group
Tom Joyce, GM Dell SIM
Francisco Partners (FP); a leading technology focused equity firm, and Elliott Management Corporation (EMC) have announced a definitive agreement to acquire the Dell Software Group which includes Dell Systems and Information Management (SIM), Security, and Advanced Analystics business units.
In an email blast, SIM General Mananger, Tom Joyce, said Dell would still remain a significant reseller and partner of their world class technologies. He wrote:
Dell will remain a significant reseller and partner of our world class technologies, but at this time we feel that creating a software specific business as an independent company represents the best possible option to accelerate the growth of the business units and to serve our employees, customers and partners.
Joyce also said it was a significant and exciting change for their business. He said Francisco Partners and Elliott Management has a long history of driving innovation and growth of its portfolio companies, and his employers and network partners would focus on the path of delivering value for customers.
He also added that while it may take some time to finalize the transaction, they would be sure to keep customers updated on the progress.
— Tom Joyce (@Tom_Joyce1) June 20, 2016
Dell Inc. is a subsidiary of Denali Holdings and delivers innovative technology, businesses solutions and services.
Further details can be found in Dell’s official press release.
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