- Francisco Partners and TPG Capital announced that they have entered into a definitive agreement with Dell Technologies (NYSE:DELL) to buy Boomi. These are the details.
Francisco Partners (a leading global investment firm that specializes in partnering with technology businesses) and TPG Capital (the private equity platform of global alternative asset firm TPG) announced that they have entered into a definitive agreement with Dell Technologies (NYSE:DELL) to buy Boomi, a leading provider of cloud-based integration platform as a service (iPaaS). The cash deal is valued at $4 billion and is expected to close by the end of 2021, subject to customary closing conditions. The terms of the agreement were not disclosed.
Boomi is trusted by over 15,000 customers globally to discover, manage, and orchestrate data. And as the pioneer of fueling intelligent use of data, Boomi makes it quick and easy for organizations to connect applications, processes, and people across a range of locations and devices – completing projects in weeks rather than months.
Through Boomi’s low-code application and data integration platform, and data quality, discovery, and readiness capabilities, customers can create integrated experiences and instantly connect people to what they want – making it faster and easier to unify data, systems, applications, processes, people, enterprises, and organizations globally.
KEY QUOTES:
“Boomi has flourished as part of 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 shared customers, and partners. For us, we’re focused on fueling growth by continuing to modernize our core infrastructure and PC businesses and expanding in high-priority areas including hybrid and private cloud, edge, telecom and APEX. All designed to help organizations thrive in the do-from-anywhere economy.”
— Jeff Clarke, vice chairman and chief operating officer of Dell Technologies
“Boomi pioneered the iPaaS category and we have tracked their growth for a number of years,” said Dipanjan Deb, co-founder and chief executive officer. The ability to integrate and connect data and workflows across any combination of applications or domains is a critical business capability, and we strongly believe that Boomi is well-positioned to help companies of all sizes turn data into their most valuable asset.”
— Brian Decker, partner, at Francisco Partners
“The need for automation and data integration across applications has never been greater. Boomi’s cloud-native platform enables enterprises to streamline business processes and is essential for driving digital transformation. TPG has a long history of partnering with corporate leaders like Dell Technologies to carve out and grow dynamic technology businesses. We look forward to working with the teams at Boomi and Francisco Partners to accelerate the company’s growth as an independent entity.”
— Nehal Raj, partner, and Art Heidrich, principal, at TPG Capital
“I am incredibly proud that through innovation, passion and relentless execution, the Boomi team has created a unified platform for the modern-day hybrid IT landscape that thousands of customers worldwide depend on to digitally transform their business. By partnering with two tier-one investment firms like Francisco Partners and TPG, we can accelerate our ability for our customers to use data to drive competitive advantage. In this next phase of growth, Boomi will be in a position of strength to further advance our innovation and market trajectory while delivering even more value to our customers.”
— Chris McNabb, chief executive officer of Boomi
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
