Francisco Partners and TPG Capital have entered into a definitive agreement to acquire Boomi from Dell Technologies in a cash transaction valued at $4 billion. The deal, which is expected to close by the end of 2021, will establish Boomi as an independent company backed by two major technology-focused investment firms.
Dell acquired Boomi in 2010, a period during which Boomi expanded significantly as a provider of cloud-based integration platform as a service solutions used to connect applications, data sources, and workflows across enterprise environments.
As companies accelerate digital transformation initiatives, Boomi’s platform has become increasingly relevant in addressing the need to integrate complex and distributed systems. Boomi currently supports over 15,000 customers worldwide, providing tools to connect applications, orchestrate data, and automate processes. Its unified, low-code platform is designed to simplify integration across hybrid and multi-cloud IT systems, enabling organizations to deliver faster and more seamless digital experiences.
The acquisition marks the latest move by Francisco Partners and TPG to invest in leading enterprise software platforms, which are well-positioned for long-term expansion. Both firms emphasized Boomi’s role in enabling businesses to modernize operations and manage data as a strategic asset. The new ownership is expected to provide Boomi with greater focus, investment capacity and independence to accelerate product development and global scale.
Boomi’s leadership stated that the company is prepared to advance innovation and enhance value for customers in its next stage of growth as a standalone organization.
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, Dell Technologies
“Boomi pioneered the iPaaS category and we have tracked their growth for a number of years. 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.”
Dipanjan Deb, Co-Founder and Chief Executive Officer, and Brian Decker, Partner, 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, 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, Boomi
